OSI Pharmaceuticals Q2 Revenues Increases

OSI Pharmaceuticals has reported total revenues from continuing operations of $99 million for the second quarter of 2009, as compared to revenues of $96 million for the second quarter of 2008.

The company has reported net income from continuing operations of $16.5 million or $0.28 per share for the three months ended June 30, 2009, as compared to $34.2 million or $0.59 per share for the three months ended June 30, 2008.

The company reported operating expenses from continuing operations for the second quarter of 2009, at $65 million, as compared to $56 million for the same period last year. The increase was primarily driven by a rise in research and development expenses related to the advancement of clinical pipeline.

The company’s net income, including results from discontinued operations, was $16.5 million or $0.28 per share for the second quarter of 2009, compared to a net income of $22.2 million or $0.39 per share for the same period last year.