MELVILLE, N.Y.--(BUSINESS WIRE)--Dec. 15, 2005--OSI Pharmaceuticals, Inc. (NASDAQ:OSIP) announced today that it has priced a private placement of $100 million aggregate principal amount of 2.00% convertible senior subordinated notes due 2025. OSI has also granted the initial purchaser of the notes a 30-day option to purchase up to an additional aggregate $15 million of the notes. The sale of the notes is expected to close on December 21, 2005, subject to customary closing conditions.