OSI looks to unload Macugen, exit eye diseases

Just a year after buying Macugen from Eyetech  (a 2003 Fierce 15 company), OSI Pharmaceuticals is looking for a way out of the eye disease sector. The company reports that it is exploring licensing or selling Macugen and its research assets in the field. Analysts expect OSI to shift its attention to its pipeline, which includes a promising therapy for diabetes. Analysts never did like the Macugen deal, which came as Genentech was on the verge of an approval for Lucentis to fight age-related macular degeneration. Lucentis and off-label injections of Avastin have quickly claimed a major share of the business.

- read the report on OSI from The Los Angeles Times