TITLE

At OSI, a $935M poke in the Eye(tech)

AUTHOR(S)
Harrell, Jeremy
PUB. DATE
November 2006
SOURCE
Long Island Business News (7/1993 to 5/2009);11/10/2006, Vol. 53 Issue 51, p5A
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports developments surrounding the $935-million investment in cash and stock of OSI Pharmaceuticals Inc. to acquire the macular degeneration drug called Macugen from Eyetech Pharmaceuticals Inc. in Melville, New York in November 2005. At that time, analysts and stockholders criticized the move, citing that a soon-to-be-launched competitor would immerse the market. In November 6, 2006, OSI announced its plan to exit the eye business due to low market demand and sales.
ACCESSION #
23153547

 

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