Last week, OSI Pharmaceuticals
Amazingly enough, there's room for further growth at OSI. The drugmaker announced 32% year-over-year improvement in worldwide net sales of the company's oncology drug, Tarceva, which it co-markets with Genentech
The rest of OSI's operations have continued in a healthy direction. The company saw a big spike in its license, milestone, and other revenue category. Key drivers of this advance included the amortization of an upfront license fee related to a licensing agreement granted to Eli Lilly
OSI really seems to have turned the corner since reporting a Q3 loss in 2006. In addition to the strong global sales improvement from Tarceva, and the exit from its eye disease business, OSI has an up-and-coming pipeline of drug candidates including PSN9301, a promising type 2 diabetes drug in phase 2 clinical trials. Friday's results will likely bring about heightened expecations for OSI, but the company seems well-prepared for the challenge.
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