"The past 10 years has been a remarkable journey as the company has successfully brought its first oncology product, Tarceva, to market and taken the business profitable," says OSI CEO Colin Goddard in a release. However, he adds, "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 US operations onto a single site."

According to published reports, OSI sought to expand at the Broadhollow Bioscience Park on the campus of Farmingdale State University, but ran into roadblocks with approvals to build on state-owned land. In a release, Goddard says the company considered options in "multiple states" before deciding to join the growing life sciences sector in Westchester. An OSI spokeswoman did not respond to GlobeSt.com inquiries by deadline.

Between its headquarters at 41 Pinelawn Rd. in Melville and a comparably sized space at 1 Bioscience Park Dr. in Farmingdale, OSI occupies about 120,000 square feet on Long Island, employing about 200 people here. Total revenues for 2008 were $379 million, up 11% over 2007, according to SEC filings. It has been based on the island since its formation in 1983.