Founded 1983 | Industry Pharmaceutical Number of employees 554 (2007–2002) | |
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Key people Colin Goddard, CEOMichael G. Atieh, CFORobert A. Ingram, Chairman Products BiopharmaceuticalsBiotherapeutics Revenue $375.7 MillionUSD (2006) Net income $-582.2 Million USD (2006) Headquarters Farmingdale, New York, United States Subsidiaries Prosidion Limited, OSI Eyetech, Inc, OSI Pharmaceuticals (UK) Ltd, Oldtech Inc | ||
News update astellas pharma inc won t raise 3 5b bid for osi pharmaceuticals osip
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. 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. 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.
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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.
On June 9, 2010, OSI was acquired by Japan-based, TSE-listed Astellas Pharma for $4.0 billion.
Tarceva
Tarceva (Erlotinib) was OSI's flagship and, as of 2007, only marketed product. 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. 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.