Tokyo-based Astellas Pharma Inc announced the acquisition of leading American-based biotechnology company OSI Pharmaceuticals, Inc. The agreement is an all-cash transaction worth an estimated $4.0 billion.
"The merger with OSI provides Astellas with a top-tier oncology platform in the U.S. and an expanded product portfolio and pipelines,” said Masafumi Nogimori, President and CEO of Astellas, in a statement. “In addition to Tarceva(R), we are pleased to add its oncology infrastructure, discovery platform, expanded pipelines and talent base to our existing businesses. We look forward to working together with our OSI colleagues to grow the combined business and realize our shared goal of improving the health of the people around the world every day."
"We believe today's announcement recognizes the significant value we have built for our stockholders while providing the merged companies the opportunity to forge a stronger collective path forward in a shared mission to provide innovative new medicines to patients around the world," said Colin Goddard, Ph.D., Chief Executive Officer of OSI Pharmaceuticals, in a statement.
OSI Pharmaceuticals is a leading biotech company focused on research, development and marketing of medical therapies for oncology, diabetes and obesity. The company’s most successful product, Tarceva® is a leading cancer medication. Reported income for the company in 2009 was reported at $428 million with an operating income of $153 million.
Since OSI is a leading developer of cancer pharmaceuticals and therapies, the transaction will allow Astellas to fulfill their goal as a Global Category Leader in Oncology and help both companies improve research and development of important oncology treatments.
Source: OSI Pharmaceuticals
"The merger with OSI provides Astellas with a top-tier oncology platform in the U.S. and an expanded product portfolio and pipelines,” said Masafumi Nogimori, President and CEO of Astellas, in a statement. “In addition to Tarceva(R), we are pleased to add its oncology infrastructure, discovery platform, expanded pipelines and talent base to our existing businesses. We look forward to working together with our OSI colleagues to grow the combined business and realize our shared goal of improving the health of the people around the world every day."
"We believe today's announcement recognizes the significant value we have built for our stockholders while providing the merged companies the opportunity to forge a stronger collective path forward in a shared mission to provide innovative new medicines to patients around the world," said Colin Goddard, Ph.D., Chief Executive Officer of OSI Pharmaceuticals, in a statement.
OSI Pharmaceuticals is a leading biotech company focused on research, development and marketing of medical therapies for oncology, diabetes and obesity. The company’s most successful product, Tarceva® is a leading cancer medication. Reported income for the company in 2009 was reported at $428 million with an operating income of $153 million.
Since OSI is a leading developer of cancer pharmaceuticals and therapies, the transaction will allow Astellas to fulfill their goal as a Global Category Leader in Oncology and help both companies improve research and development of important oncology treatments.
Source: OSI Pharmaceuticals
