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New York Pharma Firm Consolidating Operations, Relocating Corporate HQ

07/13/2009
OSI Pharmaceuticals, the manufacturer of the lung cancer drug Tarceva and other medications for cancer and diabetes, will invest $27 million to consolidate its operations and relocate its corporate headquarters in Ardsley, New York. A company statement says OSI will move its headquarters in Melville, New York, and operations in Farmingdale, New York; Boulder, Colorado; and Cedar Knolls, New Jersey, to an existing 400,000-square-foot office and laboratory space. "We have recognized that we will only truly capture the full strategic value of our oncology franchise if we simplify our business by bringing together all the elements of our U.S. operations onto a single site," says Colin Goddard, Ph.D., OSI's CEO. "After an extensive and highly competitive process involving the exploration of options in multiple different states, we have identified a campus that will represent a first-rate facility for our company and provide for all foreseeable expansion needs over the next several years. We are delighted that OSI will remain in New York state and we look forward to being an integral part of a growing cluster of quality biotech companies in Westchester County." The move will consolidate approximately 350 jobs and is expected to take place during the second half of this year. In an editorial in Newsday, Goddard says the state has offered the company a "refreshingly dynamic incentive package" for the relocation; neither OSI nor state officials have released any specific dollar amounts for the package.

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