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Astellas Pharma, Inc.

Drug Names(s): OSI-930

Description: OSI-930 is a potent tyrosine kinase inhibitor that blocks cellular signaling through the receptor tyrosine kinases, c-kit and vascular epidermal growth factor receptor (VEGFR, also known as KDR) and is designed to target both cancer cell proliferation and angiogenesis.

Deal Structure: In October 2009, Simcere Pharmaceutical announced an agreement with OSI Pharmaceuticals to develop, manufacture, and market OSI-930 in China. Under the terms of the agreement, OSI Pharmaceuticals will receive a modest upfront payment and the right to access and use data generated on OSI-930 via Simcere.

On March 1, 2010, Astellas Pharma announced they will commence a tender offer to acquire all outstanding shares of common stock of OSI Pharmaceuticals for $52.00 per share in cash, or an aggregate of approximately $3.5 billion on a fully diluted basis.

On May 16, 2010, Astellas Pharma and OSI Pharmaceuticals announced that they have entered into a definitive merger agreement under which Astellas will acquire OSI. Under the terms of the merger agreement, Astellas will increase its offer price to $57.50 per share, which represents a premium of 55% to the closing price for OSI's shares of $37.02 on February 26, 2010, the last trading day before the announcement by Astellas of its...See full deal structure in Biomedtracker

Partners: Simcere Pharmaceutical Group

OSI-930 News

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