OSI Pharmaceuticals

OSI Pharmaceuticals
OSI Pharmaceuticals, Inc.
Type Subsidiary
Industry Biopharmaceuticals & Biotherapeutics[1]
Founded 1983
Headquarters Melville, New York
Key people Colin Goddard, CEO
Michael G. Atieh, CFO
Robert A. Ingram, Chairman[1]
Products Medical Laboratories & Research
Revenue increase$375.7 MillionUSD (2006)[2]
Net income increase$-582.2 Million USD (2006)[2]
Employees 554 (2007-02)[3]
Parent Astellas Pharma (2010-present)
Website www.osip.com

OSI Pharmaceuticals, Inc. is an American pharmaceutical company based in Long Island, New York with facilities in Colorado, New Jersey and the United Kingdom. OSI specializes in the discovery and development of molecular targeted therapies, and was listed in the NASDAQ Biotechnology Index.[4] Though oncology is the top priority for OSI, research and development targeting type 2 diabetes and obesity is conducted through their U.K. subsidiary Prosidion Limited.[5][1] OSI has 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, has been unsuccessful, ending in divestiture.[6][7]

As of mid-2007, OSI's revenues are 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.[6]

On June 9, 2010, OSI was acquired by Japan-based, TSE-listed Astellas Pharma for $4.0 billion.


Tarceva (Erlotinib) was OSI's flagship and, as of 2007, only marketed product.[8][6] 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.[5] 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.


  1. ^ a b c Kristi Park. "OSI Pharmaceuticals, Inc.". Hoover's. http://www.hoovers.com/global/cobrands/nasdaq/factsheet.xhtml?ID=14327. Retrieved 2008-01-20. 
  2. ^ a b "OSI Pharmaceuticals - Financials". Hoover's. EDGAROnline. http://www.hoovers.com/osi-pharmaceuticals/--ID__14327,ticker__--/free-co-fin-factsheet.xhtml. Retrieved 2008-01-20. 
  3. ^ "2006 Annual Report" (PDF). OSI Pharmaceuticals. 2007-02-28. pp. pg22. http://media.corporate-ir.net/media_files/irol/70/70584/reports/ar2006.pdf. 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. ^ "Nasdaq Biothechnology Index". NASDAQ. 2008-01-17. http://dynamic.nasdaq.com/dynamic/nasdaqbiotech_activity.stm. Retrieved 2008-01-20. "OSI Pharmaceuticals Inc OSIP" 
  5. ^ a b "Who We Are". OSI Pharmaceuticals. http://www.osip.com/whoweare. Retrieved 2008-01-20. 
  6. ^ a b c Querida Anderson (2007-06-15). "OSI Pharma Needs to Expand Pipeline". Genetic Engineering & biotechnology News (Mary Ann Liebert, Inc.): p. 14. http://www.genengnews.com/articles/chitem.aspx?aid=2134&chid=0. Retrieved 2008-01-20. "OSI has a single marketed product backed by a mostly early-stage pipeline." 
  7. ^ "2006 Annual Report" (PDF). OSI Pharmaceuticals. 2007-02-28. pp. pg5. http://media.corporate-ir.net/media_files/irol/70/70584/reports/ar2006.pdf. 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..." 
  8. ^ "Products & Pipeline". OSI Pharmaceuticals. http://www.osip.com/products_pipeline. Retrieved 2008-01-20. 

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