Astellas Wins OSI But Victory Comes At A Price

Japanese drug maker Astellas' painstaking pursuit of OSI Pharmaceuticals was rewarded on May 17, 2010 with a definitive merger agreement that has the unanimous support of both companies' boards. The victory cost $4 billion, about $500 million more than the original hostile bid which Astellas launched in late February ("The Pink Sheet" DAILY, March 1, 2010)