OSI says details of diabetes/obesity partnership expected to be in place by year-end

By Jennifer Lanning Drey

Eugene, Ore., Sept. 11 - OSI Pharmaceuticals, Inc. expects to have a substantial partnership in place by the end of the year for its diabetes and obesity program, according to Michael Atieh, chief financial officer of OSI.

The company is actively looking for an arrangement with a partner that is willing to take on the majority of the development costs of the program, Atieh told investors Monday at the Bear Stearns health care conference.

"It is absolutely our intent to partner this portfolio. This is a primary care portfolio and we are not a primary care company," he said.

OSI has three products for treatment of diabetes or obesity in various stages of clinical development.

Atieh said the company's primary focus remains on expanding Tarceva (erlotinib), its oncology product, which is approved for treatment of non-small cell lung and pancreatic cancer.

"We are trying to establish, in effect, a paradigm shift with Tarceva," Atieh said.

Specifically, the company's long-term growth goals for Tarceva include completing studies that could establish the drug as a first-line adjuvant treatment in non-small cell lung cancer and lead to dose optimization of the drug in smokers.

"Importantly, what we're seeing as we do this is increased duration of therapy. For us, that's a critical goal. It creates a significant leveraging effect, Atieh said.

The Melville, N.Y., pharmaceutical company also plans to study Tarceva as a treatment for tumor types caused by other cancers, including ovarian and colorectal cancer. In addition, the company will study the drug as part of a variety of molecular cocktails used for other targeted therapies, he said.

"In terms of Tarceva, when we think about pancreatic and non-small cell lung cancer, we see that's just the beginning," Atieh said.

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