OSI Pharmaceuticals, Inc. Reports Intention to File Shelf Registration Statement in Connection with Previously Issued Convertible Notes

MELVILLE, N.Y.--(BUSINESS WIRE)--OSI Pharmaceuticals, Inc. (NASDAQ: OSIP) announced today that it intends to file with the U.S. Securities and Exchange Commission a resale shelf registration statement on or before April 1, 2008 on Form S-3 pursuant to the terms of a registration rights agreement OSI entered into on January 9, 2008 in connection with the sale of its $200 million principal amount of 3% Convertible Senior Subordinated Notes due 2038 (the “Notes”) and the shares of OSI common stock issuable upon conversion of the Notes.

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