Astellas commences unsolicited tender offer to acquire common shares of OSI for $52.00 per share

OSI Pharmaceuticals, Inc. (NASDAQ: OSIP) (“OSI”) today confirmed that Astellas Pharma Inc. (“Astellas”) has commenced an unsolicited tender offer to acquire all outstanding common shares of OSI for $52.00 per share in cash.

Consistent with its fiduciary duties and as required by applicable law, the OSI Board of Directors will review the offer to determine the course of action that it believes is in the best interests of the Company and its stockholders. OSI stockholders are advised to take no action at this time pending the review of the tender offer by the OSI Board of Directors.