OSI PHARMACEUTICALS ANNOUNCES UPDATE TO TIMING OF EUROPEAN UNION APPROVAL FOR MACUGEN(R)

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OSI Pharmaceuticals, Inc. (NASDAQ: OSIP) announced today that the Committee for Medicinal Products for Human Use (CHMP), the scientific committee of the European Medicines Agency (EMEA), has advised Pfizer Inc, (OSI) Eyetech's international marketing partner for Macugen(R) (pegaptanib sodium injection), that it will issue an updated positive opinion recommending approval of Macugen for the treatment of neovascular (wet) age-related macular degeneration (neovascular AMD).

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