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Biotech / Medical : Munch-a-Biotech Today

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To: Biomaven who wrote ()	1/8/1999 12:25:00 PM
From: scaram(o)uche	Read Replies (1) of 3158

Friday January 8, 11:28 am Eastern Time Company Press Release SOURCE: OSI Pharmaceuticals, Inc. OSI Pharmaceuticals, Inc. Adopts Shareholders Rights Plan and By-Law Amendments UNIONDALE, N.Y., Jan. 8 /PRNewswire/ -- OSI Pharmaceuticals, Inc. (Nasdaq: OSIP - news) announced today that it has adopted a Shareholders Rights Plan and several By-Law amendments. The rights plan and By-Law amendments provide protection for the Company's stockholders against coercive or unfair takeover tactics. ''We felt it to be in the best interest of our shareholders to institute these measures at this time,'' stated Colin Goddard, President and Chief Executive Officer of OSI. ''We believe the Company is very undervalued at a time when the progress in our discovery programs, most notably our clinical and late stage pre-clinical product developments with Pfizer, point to an exciting future for OSI.'' (snip)

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