-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 PWEnc/lcpQV0cd2ufG2/AQ==

<SEC-DOCUMENT>0000928475-06-000132.txt : 20060509
<SEC-HEADER>0000928475-06-000132.hdr.sgml : 20060509
<ACCEPTANCE-DATETIME>20060509181732
ACCESSION NUMBER:		0000928475-06-000132
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060505
FILED AS OF DATE:		20060509
DATE AS OF CHANGE:		20060509

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HIGH RIVER LIMITED PARTNERSHIP /NY/
		CENTRAL INDEX KEY:			0000928464

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19612
		FILM NUMBER:		06822691

	BUSINESS ADDRESS:	
		STREET 1:		100 S BEDFORD RD
		CITY:			MT KISCO
		STATE:			NY
		ZIP:			10549
		BUSINESS PHONE:		914-241-9000

	MAIL ADDRESS:	
		STREET 1:		100 S BEDFORD RD
		CITY:			MT KISCO
		STATE:			NY
		ZIP:			10549

	FORMER NAME:	
		FORMER CONFORMED NAME:	HIGH RIVER LIMITED PARTNERSHIP
		DATE OF NAME CHANGE:	19950526

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Hopper Investments LLC
		CENTRAL INDEX KEY:			0001322824
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19612
		FILM NUMBER:		06822692

	BUSINESS ADDRESS:	
		STREET 1:		100 SOUTH BEDFORD ROAD
		CITY:			MT KISCO
		STATE:			NY
		ZIP:			10549
		BUSINESS PHONE:		914 241-9000

	MAIL ADDRESS:	
		STREET 1:		100 SOUTH BEDFORD ROAD
		CITY:			MT KISCO
		STATE:			NY
		ZIP:			10549

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BARBERRY CORP.
		CENTRAL INDEX KEY:			0000860851
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19612
		FILM NUMBER:		06822693

	BUSINESS ADDRESS:	
		STREET 1:		100 SOUTH BEDFORD ROAD
		CITY:			MT KISCO
		STATE:			NY
		ZIP:			10549
		BUSINESS PHONE:		914 -241-9000

	MAIL ADDRESS:	
		STREET 1:		100 SOUTH BEDFORD ROAD
		CITY:			MT KISCO
		STATE:			NY
		ZIP:			10549

	FORMER NAME:	
		FORMER CONFORMED NAME:	BARBERRY CORP /NY/
		DATE OF NAME CHANGE:	19990402

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			AMERICAN REAL ESTATE HOLDINGS L P
		CENTRAL INDEX KEY:			0001034563
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATORS OF NONRESIDENTIAL BUILDINGS [6512]
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19612
		FILM NUMBER:		06822694

	BUSINESS ADDRESS:	
		STREET 1:		100 SOUTH BEDFORD ROAD
		CITY:			MOUNT KISCO
		STATE:			NY
		ZIP:			10549
		BUSINESS PHONE:		9142419000

	MAIL ADDRESS:	
		STREET 1:		100 SOUTH BEDFORD ROAD
		CITY:			MOUNT KISCO
		STATE:			NY
		ZIP:			10549

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			AMERICAN PROPERTY INVESTORS INC
		CENTRAL INDEX KEY:			0001257324
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19612
		FILM NUMBER:		06822695

	MAIL ADDRESS:	
		STREET 1:		100 SOUTH BEDFORD RD
		CITY:			MT KISCO
		STATE:			NY
		ZIP:			10549

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ICAHN CARL C ET AL
		CENTRAL INDEX KEY:			0000921669
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19612
		FILM NUMBER:		06822696

	BUSINESS ADDRESS:	
		STREET 1:		C/O ICAHN ASSOCIATES CORP.
		STREET 2:		767 FIFTH AVE., SUITE 4700
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153
		BUSINESS PHONE:		2127024300

	MAIL ADDRESS:	
		STREET 1:		C/O ICAHN ASSOCIATES CORP.
		STREET 2:		767 FIFTH AVE., SUITE 4700
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10153

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BECKTON CORP
		CENTRAL INDEX KEY:			0001080113

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19612
		FILM NUMBER:		06822690

	BUSINESS ADDRESS:	
		STREET 1:		100 S BEDFORD RD
		CITY:			MT. KISCO
		STATE:			NY
		ZIP:			10549
		BUSINESS PHONE:		914-241-9000

	MAIL ADDRESS:	
		STREET 1:		100 S BEDFORD RD
		CITY:			MT. KISCO
		STATE:			NY
		ZIP:			10549

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IMCLONE SYSTEMS INC
		CENTRAL INDEX KEY:			0000765258
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				042834797
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		180 VARICK STREET - 6TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014
		BUSINESS PHONE:		646-638-5078

	MAIL ADDRESS:	
		STREET 1:		180 VARICK STREET - 6TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IMCLONE SYSTEMS INC/DE
		DATE OF NAME CHANGE:	19940211
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form45906_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2006-05-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000765258</issuerCik>
        <issuerName>IMCLONE SYSTEMS INC</issuerName>
        <issuerTradingSymbol>IMCL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000921669</rptOwnerCik>
            <rptOwnerName>ICAHN CARL C ET AL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O ICAHN ASSOCIATES CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>767 FIFTH AVE., SUITE 4700</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10153</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001257324</rptOwnerCik>
            <rptOwnerName>AMERICAN PROPERTY INVESTORS INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 SOUTH BEDFORD RD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MT KISCO</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10549</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001034563</rptOwnerCik>
            <rptOwnerName>AMERICAN REAL ESTATE HOLDINGS L P</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 SOUTH BEDFORD ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MOUNT KISCO</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10549</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000860851</rptOwnerCik>
            <rptOwnerName>BARBERRY CORP.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 SOUTH BEDFORD ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MT KISCO</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10549</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001322824</rptOwnerCik>
            <rptOwnerName>Hopper Investments LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 SOUTH BEDFORD ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MT KISCO</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10549</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000928464</rptOwnerCik>
            <rptOwnerName>HIGH RIVER LIMITED PARTNERSHIP /NY/</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 S BEDFORD RD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MT KISCO</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10549</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001080113</rptOwnerCik>
            <rptOwnerName>BECKTON CORP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>100 S BEDFORD RD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MT. KISCO</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10549</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $.001 (the &quot;Shares&quot;)</value>
            </securityTitle>
            <transactionDate>
                <value>2006-05-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>47527</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>37.27</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8525979</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>PLEASE SEE ALL FOOTNOTES</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">American Real Estate Holdings Limited Partnership (&quot;AREH&quot;) directly beneficially owns 3,223,130 Shares, Barberry Corp.
(&quot;Barberry&quot;) directly beneficially owns 900,800 Shares and High River Limited Partnership (&quot;High River&quot;) directly
beneficially owns 4,402,049 Shares.  Beckton Corp. (&quot;Beckton&quot;) is the sole shareholder of American Property Investors,
Inc. (&quot;API&quot;), which is the general partner of AREH.  Barberry is the sole member of Hopper Investments LLC (&quot;Hopper&quot;),
which is the general partner of High River.  Beckton and Barberry are 100 percent owned by Carl C. Icahn.  As such,
Mr. Icahn is in a position indirectly to determine the investment and voting decisions made by all of the foregoing entities.</footnote>
        <footnote id="F2">Each of Beckton and API by virtue of their relationship to AREH, may be deemed to indirectly beneficially own (as that
term is defined in Rule 13d-3 under the Act) the 3,223,130 Shares which AREH owns.  Each of Beckton and API
disclaim beneficial ownership of such Shares except to the extent of their pecuniary interest therein.  Each of Barberry
and Hopper by virtue of their relationship to High River, may be deemed to indirectly beneficially own (as that term is
defined in Rule 13d-3 under the Act) the 4,402,049 Shares which High River owns.  Each of Barberry and Hopper
disclaim beneficial ownership of such Shares except to the extent of their pecuniary interest therein.</footnote>
        <footnote id="F3">Mr. Icahn by virtue of his relationship to API, AREH, Barberry, Beckton, Hopper and High River, may be deemed to
indirectly beneficially own (as that term is defined in Rule 13d-3 under the Act) the 3,223,130 Shares which AREH owns,
the 900,800 Shares which Barberry owns, and the 4,402,049 Shares which High River owns.  Mr. Icahn disclaims
beneficial ownership of such Shares except to the extent of his pecuniary interest therein.  Gail Golden, the spouse of
Mr. Icahn, directly beneficially owns 15,000 Shares.  Mr. Icahn disclaims beneficial ownership of such Shares for all
purposes.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>CARL C. ICAHN</signatureName>
        <signatureDate>2006-05-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>AMERICAN PROPERTY INVESTORS INC.</signatureName>
        <signatureDate>2006-05-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>AMERICAN REAL ESTATE HOLDINGS LIMITED PARTNERSHIP</signatureName>
        <signatureDate>2006-05-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>BARBERRY CORP.</signatureName>
        <signatureDate>2006-05-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>HOPPER INVESTMENTS LLC</signatureName>
        <signatureDate>2006-05-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>HIGH RIVER LIMITED PARTNERSHIP</signatureName>
        <signatureDate>2006-05-09</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>BECKTON CORP.</signatureName>
        <signatureDate>2006-05-09</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----