Pharma BD Deal Intelligence
A ~$935M bet on Macugen collapsed within a year of close and OSI gave the business away by 2008 — one of the more clear-cut failed pharma acquisitions of the mid-2000s.
Full analysis, sources & comparables →OSI shares fell sharply on the Eyetech deal announcement as investors questioned the diversification rationale and Macugen's competitive durability.
OSI completed the Eyetech acquisition for ~$935M ($20/share, 43% premium), gaining Macugen for wet AMD as a complement to Tarceva in oncology.
Source summaries from our enrichment pipeline; follow links for originals.
All 4 sources with sentiment breakdown →
OSI agrees to acquire Eyetech for ~$935M cash+stock ($20/share, 43% premium). Gains Macugen (wet AMD). Closed Nov 14, 2005.
A ~$935M bet on Macugen collapsed within a year of close and OSI gave the business away by 2008 — one of the more clear-cut failed pharma acquisitions of the mid-2000s.
Assessment window: 15yr post-close.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| OSI Pharmaceuticals / EyeTech Pharmaceuticals Inc. (this deal) | 2005 | $935M | 10 |
| OSI Pharmaceuticals / Gilead Sciences (oncology assets) | 2001 | $200M | 28 |
| AstraZeneca PLC / KuDOS Pharmaceuticals Limited | 2005 | $210M | 98 |
| Yamanouchi Pharmaceutical / Fujisawa Pharmaceutical Co. Ltd. | 2005 | — | 92 |
| Sankyo Co., Ltd. / Daiichi Pharmaceutical Co., Ltd. | 2005 | $8.0B | 92 |
| Cephalon Inc. / Salmedix, Inc. | 2005 | $160M | 89 |
| Roche Holding AG / GlycArt Biotechnology AG | 2005 | $182M | 80 |
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