Astellas Pharma Inc. (4503.TO) said Friday it will extend its $3.5 billion tender offer for OSI Pharmaceuticals Inc. (OSIP) by another three weeks to May 17, as OSI's strong share price continues to frustrate its attempts at a takeover.

Astellas said OSI shareholders have so far tendered a total of 42,283 shares for purchase, accounting for about 0.07% of outstanding shares.

Japan's No. 2 pharmaceutical maker by sales said it will continue to offer $52 per share in its hostile tender offer for the U.S.-based company, which it originally launched on March 1.

On Thursday, OSI shares closed at $58.66.

-By Kazuhiro Shimamura, Dow Jones Newswires; 813-6269-2790; kazuhiro.shimamura@dowjones.com
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