Eyetech Pharmaceuticals, OSI deal

OSIP announced it will buy EYET for $935 million, including $701 million in cash and $234 million in 5.7 million shares of stock. The deal values EYET at $20 per share. This is a 43% premium to EYET's Aug. 19 close of $13.99, or $629.6 million.

EYET's Macugen pegaptanib is approved for age-related macular degeneration (AMD). In the second quarter, Macugen net sales were $47 million, and EYET expects full year net sales of $175-$190 million. ...