<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-05-02</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001361754</rptOwnerCik>
            <rptOwnerName>Denner Alexander J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O VIKING GLOBAL PERFORMANCE LLC</rptOwnerStreet1>
            <rptOwnerStreet2>55 RAILROAD AVENUE</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001132625</rptOwnerCik>
            <rptOwnerName>VIKING GLOBAL PERFORMANCE LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>55 RAILROAD AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>3RD FLOOR</rptOwnerStreet2>
            <rptOwnerCity>GREENWICH</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06830</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock (&quot;Common Stock&quot;)</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3232000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">In addition to being a Director to the Company, Alexander J. Denner (&quot;Mr. Denner&quot;) also serves as a portfolio manager for
 Viking Global Performance LLC (&quot;VGP&quot;) which acts as (i) the general partner of Viking Global Equities LP, a Delaware limited
 partnership (&quot;VGE&quot;), and (ii) as investment manager to VGE III Portfolio Ltd., a Cayman Islands company (&quot;VGE III&quot;).  This
 statement relates to the shares of Common Stock directly owned by VGE and VGE III. As general partner and investment
 manager, respectively, VGP has the power to dispose of and vote the shares of Common Stock directly owned by VGE and VGE
 III.  O. Andreas Halvorsen and David C. Ott are the managing members of VGP.  None of Messrs. Denner, Halvorsen, Ott or VGP
 directly own any shares of Common Stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Alexander J. Denner</signatureName>
        <signatureDate>2006-05-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
