This web site is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

PSN357

Astellas Pharma, Inc.

Drug Names(s): PSN357

Description: PSN357 is an oral glycogen phosphorylase inhibitor that is thought to lower blood glucose levels in vivo by preventing glycogen breakdown to glucose in the liver.

Deal Structure: PSN357 was originally developed by OSI.

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 tender offer. The boards of directors of both companies have unanimously approved the combination. The all-cash transaction is valued at $4.0 billion on a fully diluted basis. The acquisition was completed on June 9, 2010.


PSN357 News


Additional information available to subscribers only:

  • Targets
  • Routes
  • Catalysts
  • Designations
  • Events

Request a Free Demo Subscriber Login Search for another drug