|
|
Article: Oncology-Focused OSI Agrees To Wind Down' Pfizer Deal.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Staff Writer
OSI Pharmaceuticals Inc. agreed to end early its funded research alliance in cosmeceuticals with Anaderm Research Corp., a wholly owned subsidiary of Pfizer Inc., in an effort to further concentrate in oncology.
New York-based Pfizer will pay OSI, of Melville, N.Y., an $8 million "wind-down fee," the company said, in return for OSI transferring to Pfizer the research it has amassed since the alliance began in 1999. The alliance centered on areas including skin pigmentation, skin wrinkling and hair loss. (See BioWorld Today, May 28, 1999.)
"We are focusing everything on oncology right now," said OSI Chief Financial Officer Robert ...