The ink is barely dry on the acquisition papers, and already Lilly has directed its ImClone Systems unit to eliminate almost half of its sales reps. Lilly, you may recall, agreed two months ago to pay $6.5 billion for ImClone, which markets the Erbitux cancer med and figured in the Martha Stewart insider trading scandal, and beat out Bristol-Myers Squibb (back story).

The drugmaker is not wasting any time in cutting costs. Late last week, nearly three dozen ImClone reps were told their services are no longer needed. A spokeswoman confirms the cuts and adds that further moves are planned. Here is what she wrote us…

“About 30 of the nearly 70 roles that made up the ImClone sales force were eliminated. This takes the overall size of the sales force back to a mid-2007 sales model that proved very effective for ImClone in maximizing the sales of Erbitux.

We are also confident the Bristol-Myers Squibb field sales force focused on supporting Erbitux will continue to contribute to the success of this valuable targeted agent for patients. Additionally, we will continue to look to streamline efforts and create synergies across the Lilly and ImClone field sales organizations for the benefit of the prescribers and patients we serve.”

Coincidentally, Lilly and Bristol-Myers Squibb are now seeking approval to market Erbitux as an initial lung cancer treatment. The med is already approved to treat colon and head and neck cancer.