OSI buys back $79.5 million of convertibles for $75 million to date

By Susanna Moon

Chicago, Dec. 22 - OSI Pharmaceuticals, Inc. said it has purchased $39.5 million face value of its convertible bonds due 2023 for $37.6 million and $40 million face value of its convertible bonds due 2038 for $37.4 million as of Tuesday.

OSI now has $335.5 million of outstanding notes due in 2023, 2025 and 2038.

The company said it may continue to selectively repurchase convertible bonds throughout 2010 from time to time.

OSI Pharmaceuticals is a pharmaceutical company based in Melville, N.Y.

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