X0202 4 2005-10-26 0 0000729922 OSI PHARMACEUTICALS INC OSIP 0001213100 LOVENBERG WALTER M PHD C/O OSI PHARMACEUTICALS, INC. 58 SOUTH SERVICE ROAD, SUITE 110 MELVILLE NY 11747 1 0 0 0 Common Stock 2005-10-26 4 M 0 4000 9.25 A 12874 D Stock Option (Right to Buy) 9.25 2005-10-26 4 M 0 4000 0.00 D 1997-03-25 2006-03-24 Common Stock 4000 7665 D The reporting person purchased the shares through the exercise of options and tendered cash to the Issuer in the amount of the exercise price for the shares and the amount of income tax required to be withheld. One third of the stock option became exercisable one year after the date of the grant and the remainder vested ratably on a monthly basis over the succeeding 24 months. The stock option was granted pursuant to one of the Issuer's incentive and non-qualified stock option plans and is exempt under Rule 16b-3. Includes only options with the same termination date. Michael G. Atieh by Power of Attorney 2005-10-27