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EXHIBIT 12.1

IMCLONE SYSTEMS INCORPORATED

RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)

		Year Ended
		2003			2002			2001			2000			1999
Net loss		$	(112,502	)	$	(157,949	)	$	(127,607	)	$	(70,469	)	$	(34,739	)
Add:
	Fixed charges		15,427			16,381			15,773			13,228			796
Less:
	Capitalized Interest		6,059			2,077			1,656			846			204
Net loss, as adjusted		$	103,134		$	(143,645	)	$	(113,490	)	$	(58,087	)	$	(34,147	)
Fixed Charges:
	Interest (gross), including amortization of debt issuance costs		15,184			15,256			15,252			12,951			526
	Portion of rent representative of the interest factor		243			1,125			521			277			270
Fixed charges		$	15,427		$	16,381		$	15,773		$	13,228		$	796
Deficiency of earnings available to cover fixed charges		$	(118,561	)	$	(160,026	)	$	(129,263	)	$	(71,315	)	$	(34,943	)

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EXHIBIT 12.1

IMCLONE SYSTEMS INCORPORATED RATIO OF EARNINGS TO FIXED CHARGES (in thousands)