Japan's Astellas to buy US drug maker OSI for $4 billion, eyeing cancer business expansion
TOKYO (AP) -- Astellas Pharma Inc.,
Astellas said it will pay $57.50 per OSI share, up from $52 the Japanese company had offered earlier. The transaction will be completed within a month.
The acquisition is part of Astellas' drive to expand its cancer drug business worldwide. OSI's drugs include Tarceva, for lung cancer, which generated $1.2 billion in global sales last year.
The Japanese maker said it hopes to jointly develop cancer drugs with OSI.
Apart from cancer, OSI focuses on oncology, diabetes and obesity treatments.
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