Abraxis BioScience
| Industry | Pharmaceutical |
|---|---|
| Founded | 2001 in Los Angeles, California Abraxane |
| Services | Cancer drugs |
| Revenue |  US$359 million (2009)[2] |
 US$−113 million (2009)[2] | |
| US$−104 million (2009)[2] | |
| Total assets | US$1.068 billion (2009)[2] |
| Total equity | US$846 million (2009)[2] |
| Owner | Celgene |
Number of employees | 885 (2009)[2] |
Abraxis BioScience was a global
In 2010, Abraxis BioScience was acquired by
Celgene Corporation.[6]
History
Abraxis was incorporated in 2001 in
cardiovascular diseases.[1] It had manufacturing plants in Melrose Park, Illinois and Phoenix, Arizona.[1] By 2005, Dr. Patrick Soon-Shiong merged American BioScience and the publicly-held APP, naming it Abraxis BioScience.[8] Under this new name, seventy-four trials were undertaken to test Abraxane against various cancer targets.[8] The drug, which was approved by the FDA in 2005, was the subject of a litigation (Elan Pharma v. Abraxis BioScience) for patent infringement.[9] In 2008, Abraxis was ordered to pay $55.2 million to Elan.[9]
In August 2007, Abraxis announced it would again undergo a restructuring to separate its "hospital-based products business" from its "proprietary products business" into two public companies; this would involve the merging of Abraxis Oncology and Abraxis Research sub-units to form a new Abraxis Bioscience (Abraxis Bioscience, Inc., Nasdaq: ABII), and the spinoff of Abraxis Pharmaceutical Products (APP, Inc., Nasdaq: APPX).[10] This reorganization was completed in November 2007.[11] During the reorganization, the new Abraxis Bioscience was known briefly as New Abraxis.[11]
In 2010, Abraxis BioScience was acquired by
Celgene Corporation.[6] Per Celgene's website, as of at least 2016 Abraxis no longer exists as a named division within Celgene.[citation needed
]
References
- ^ a b c d "Company Overview of Abraxis BioScience, Inc". Bloomberg. Retrieved October 17, 2016.
- ^ a b c d e f "Abraxis BioScience 2009". Abraxis BioScience.
- ^ BioPortfolio, 2007, "InDepth Summary", 10/11/2009[dead link]
- ^ Abraxis BioScience, 2008, "Nab Technology", 10/11/2009
- ^ Hoovers. Archived 2015-09-24 at the Wayback Machine
- ^ a b Celgene, 30 June 2010, "Celgene To Acquire Abraxis BioScience Inc." (press release), 8/6/2015.
- ISBN 978-1-59392-107-1.
- ^ ISBN 978-1-62157-435-4.
- ^ ISBN 978-1-84980-246-8.
- Highbeam Research.
- ^ a b Gopalakrishnan, Lisa (13 November 2007). FORM 8-K (Report). United States Securities and Exchange Commission. Retrieved 2015-08-07.
External links
