OSI Pharmaceuticals

OSI Pharmaceuticals is a biotechnology company that specializes in the discovery, development, and commercialization of high-quality, innovative, and targeted medicines to meet critical patient needs in oncology, diabetes, and obesity. The company was founded in 1983 and is headquartered in Melville, New York.

History

OSI Pharmaceuticals was founded in 1983 by a group of scientists and entrepreneurs. The company initially focused on the development of novel therapeutic agents for the treatment of cancer and diabetes. In 1996, OSI Pharmaceuticals became a publicly traded company on the NASDAQ stock exchange.

Products

OSI Pharmaceuticals' most successful product to date is Tarceva, a drug used for the treatment of non-small cell lung cancer and pancreatic cancer. Tarceva was approved by the Food and Drug Administration (FDA) in 2004.

Acquisition by Astellas Pharma

In 2010, OSI Pharmaceuticals was acquired by Astellas Pharma, a Japanese pharmaceutical company, for $4 billion. The acquisition was part of Astellas' strategy to expand its oncology portfolio.

Research and Development

OSI Pharmaceuticals has a robust research and development program, with a focus on oncology, diabetes, and obesity. The company's R&D efforts are aimed at discovering and developing innovative medicines that can improve patient outcomes and quality of life.

See Also

• Biotechnology
• Pharmaceutical industry
• Astellas Pharma
• Tarceva