OSI could delay Eyetech deal

OSIP said that before it closes its proposed $935 million acquisition of EYET, it wants to assess the possible impact of Phase III data for Genentech's Lucentis ranibizumab that were released on Monday. Lucentis, which met the primary endpoint in the ANCHOR trial, would compete with EYET's Macugen pegaptanib, which is approved for age-related macular degeneration (AMD) (see BioCentury Extra, Monday Nov. 7, 2005).

On Thursday morning, EYET said the closing is scheduled for Nov. 14. The company also said that its shareholders have approved the deal, and that EYET believes "OSI has no basis to claim either that a 'material adverse effect' has occurred or that OSI has any other grounds not to close the merger." ...