OSI Pharmaceuticals

Last updated
OSI Pharmaceuticals, Inc.
Company type Subsidiary
Industry Pharmaceutical [1]
Founded1983
Headquarters Melville, New York
Key people
Colin Goddard, CEO
Michael G. Atieh, CFO
Robert A. Ingram, Chairman [1]
Products Biopharmaceuticals
Biotherapeutics
RevenueIncrease2.svg$375.7 MillionUSD (2006) [2]
Increase2.svg$-582.2 Million USD (2006) [2]
Number of employees
554 (2007-02) [3]
Parent Astellas Pharma (2010-present)

OSI Pharmaceuticals, Inc. was an American pharmaceutical company formerly based in Long Island, New York with facilities in Colorado, New Jersey and the United Kingdom. On Sunday, May 16, 2010 OSI agreed to be acquired by Japan-based, TSE-listed Astellas Pharma for $4.0 billion. [4] The deal was closed on June 9, 2010. The company closed its last facilities in Long Island in May 2013. [5] OSI had specialized in the discovery and development of molecular targeted therapies. Though oncology was the top priority for OSI, research and development targeting type 2 diabetes and obesity had been conducted through their U.K. subsidiary Prosidion Limited. [6] [1] OSI had also made a foray into the ophthalmology market through a marketing agreement with Pfizer over Macugen (Pegaptanib) for Age-related macular degeneration; however, acquisition of the firm Eyetech, meant to provide control over this product and diversify the company, was unsuccessful, ending in divestiture. [7] [8]

Contents

In mid-2007, OSI's revenues were based primarily on proceeds from Tarceva sales (which are shared with Genentech and Hoffmann–La Roche) and royalty payments related to dipeptidyl-peptidase IV inhibitor intellectual property. [7]

Tarceva

Tarceva (Erlotinib) was OSI's flagship and, as of 2007, only marketed product. [7] [9] Tarceva is a small molecule inhibitor of the epidermal growth factor receptor (EGFR) and is the only EGFR inhibitor to have demonstrated the ability to improve overall survival in advanced non-small cell lung cancer and advanced pancreatic cancer. [6] Tarceva was discovered by Pfizer as CP-358774 (Moyer et al. Cancer Research, 1997, 57:4838), renamed OSI-774 when Pfizer was required to divest the compound in order to complete the buyout of Warner lambert/Parke-Davis and subsequently developed by OSI in conjunction with Genentech.

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References

  1. 1 2 3 Kristi Park. "OSI Pharmaceuticals, Inc". Hoover's . Retrieved 2008-01-20.
  2. 1 2 "OSI Pharmaceuticals - Financials". Hoover's. EDGAROnline. Retrieved 2008-01-20.
  3. ↑ "2006 Annual Report" (PDF). OSI Pharmaceuticals. 2007-02-28. p. 22. Retrieved 2008-01-20. As of February 7, 2007, our number of employees decreased to 554, of which 276 primarily are involved in research, development and manufacturing activities and 140 primarily are involved in the commercialization of our products.
  4. ↑ Astellas to Buy OSI Pharma for $4 Billion, Michael J. de la Merced, New York Times Deal Book, May 16, 2010, retrieved March 29, 2019
  5. ↑ Companies that left Long Island or downsized over the years, Newsday, February 21, 2017, retrieved March 29, 2019.
  6. 1 2 "Who We Are". OSI Pharmaceuticals. Archived from the original on 2008-01-30. Retrieved 2008-01-20.
  7. 1 2 3 Querida Anderson (2007-06-15). "OSI Pharma Needs to Expand Pipeline". Genetic Engineering & Biotechnology News . Mary Ann Liebert, Inc. p. 14. Archived from the original on 2007-08-22. Retrieved 2008-01-20. OSI has a single marketed product backed by a mostly early-stage pipeline.
  8. ↑ "2006 Annual Report" (PDF). OSI Pharmaceuticals. 2007-02-28. p. 5. Retrieved 2008-01-20. As a result of our decision to divest the eye disease business held by our wholly owned subsidiary, (OSI) Eyetech, Inc., the operating results for (OSI) Eyetech are shown as discontinued operations...
  9. ↑ "Products & Pipeline". OSI Pharmaceuticals. Archived from the original on 2008-01-30. Retrieved 2008-01-20.
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