OSI says Tarceva U.S. sales up 15% in fourth quarter

By Ted A. Knutson

Washington, Jan. 11 - OSI Pharmaceuticals, Inc. announced Wednesday fourth-quarter U.S. sales for its flagship product Tarceva (erlotinib) increased 15% to $83.9 million over the third quarter.

Total domestic net sales of Tarceva for 2005, its launch year, were $274.9 million.

Tarceva is the first drug discovered and developed by OSI to obtain Food and Drug Administration approval. It has demonstrated the ability to improve survival in both non-small cell lung cancer and pancreatic cancer patients.

OSI also announced that during its presentation at the JPMorgan 24th Annual Healthcare Conference in San Francisco on Monday the company provided updated guidance of net product revenue of $183 million to $185 million for Macugen (pegaptanib sodium injection) for the year ended Dec. 31.

Prior guidance of net product revenue for Macugen for 2005 was $175 million to $190 million. The company also announced at the conference that following its previously announced private placement of convertible senior notes it exited 2005 with in excess of $150 million in cash and investments on its balance sheet.

OSI is a Melville, N.Y.-based biotechnology company.

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