Astellas completes buyout of OSI Pharmaceuticals

Astellas has finalised its takeover of OSI Pharmaceuticals in a move which is set to allow it to expand its presence in the oncology sector.

The company completed the buyout of OSI in a short-form merger, making the newly-acquired firm a wholly-owned subsidiary of Astellas US Holding Inc.

OSI is a biotechnology firm which specialises in molecular targeted therapies for cancer, diabetes and obesity, as well as offering products in the areas of urology and transplantation.

The purchase will allow Astellas to add several new oncology medications to its portfolio, including the leading treatment Tarceva.

Masafumi Nogimori, president and chief executive officer of Astellas, expressed confidence that the deal will support the company’s aim of “developing a world-class oncology platform and realising our goal of improving the health of people around the world”.

This comes in the same year Astellas agreed to purchase biotech subsidiary Agensys, a move designed to strengthen its oncology platform further.