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This, the first of our regional blogs, is authored by the technology and financial journalist Dominic Basulto. Dominic is a New York native, has been a senior editor at Corante since day one and has written for a number of online and offline media companies. Send tips or story ideas to: basulto@gmail.com.

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August 23, 2005

OSI Pharmaceuticals to acquire Eyetech

Posted by Dominic Basulto

Long Island-based OSI Pharmaceuticals will acquire Eyetech Pharmaceuticals, which has offices in Times Square, for approximately $935 million in stock and cash. OSI Pharmaceuticals specializes in cancer treatments while Eyetech makes the age-related macular degeneration treatment Macugen. According to the terms of the deal, OSI will pay $20 per share for Eyetech, a 43% premium to the stock's closing price of $13.99 on Friday.

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