Japanese drug company Astellas Pharma Inc. June 9 announced that it has completed its acquisition of Melville, N.Y.-based OSI Pharmaceuticals Inc. for $4 billion.
OSI is a biotechnology company primarily focused on the discovery, development, and commercialization of molecular targeted therapies addressing medical needs in oncology, diabetes, and obesity. OSI manufactures and sells Tarceva (erlotinib), a leading cancer medication, and has several prospective new oncology medications in its research and development pipeline.
In May, the companies announced that they had entered into a definitive merger agreement (8 PLIR 662, 5/21/10).
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