Abraxis BioScience

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Abraxis BioScience
IndustryPharmaceutical
Founded2001 (2001) in Los Angeles, California[1]
FounderDr. Patrick Soon-Shiong
Defunct2010
Headquarters
Los Angeles
,
United States
Key people
Mr. Rick Click, Chief Information Officer and Global IT Officer; Dr. Nguyen V. Dat Ph.D., Vice President of Clinical Research
ProductsProtein-based therapeutics and technologies for treatment of cancer and other critical illnesses
BrandsAbraxane
ServicesCancer drugs
RevenueIncrease US$359 million (2009)[2]
Decrease US$−113 million (2009)[2]
Decrease US$−104 million (2009)[2]
Total assetsDecrease US$1.068 billion (2009)[2]
Total equityDecrease US$846 million (2009)[2]
OwnerCelgene
Number of employees
885 (2009)[2]

Abraxis BioScience was a global biopharmaceutical, and nano-medicine company that developed treatments for critically ill patients. It had over 2000 employees worldwide in 2007.[3] Abraxis's portfolio included the world's first protein-based nanoparticle chemotherapeutic compound, called nab Technology.[4] From this the company developed Abraxane, a treatment for metastatic breast cancer.[5]

In 2010, Abraxis BioScience was acquired by Celgene Corporation.[6]

History[]

Abraxis was incorporated in 2001 in Los Angeles.[1] Besides cancer treatments, it provided treatment for multiple sclerosis, Alzheimer's, and some cardiovascular diseases.[1] It had manufacturing plants in Melrose Park, Illinois and Phoenix, Arizona.[1]

In August 2007, Abraxis announced it would 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 subunits to form a new Abraxis Bioscience (Abraxis Bioscience, Inc., Nasdaq: ABII), and the spinoff of Abraxis Pharmaceutical Products (APP, Inc., Nasdaq: APPX).[7] This reorganization was completed in November 2007.[8] During the reorganization, the new Abraxis Bioscience was known briefly as New Abraxis.[8]

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.

References[]

  1. ^ a b c d "Company Overview of Abraxis BioScience, Inc". Bloomberg. Retrieved October 17, 2016.
  2. ^ a b c d e f "Abraxis BioScience 2009". Abraxis BioScience. Abraxis BioScience.
  3. ^ BioPortfolio, 2007, "InDepth Summary", 10/11/2009[dead link]
  4. ^ Abraxis BioScience, 2008, "Nab Technology", 10/11/2009
  5. ^ Hoovers. Archived 2015-09-24 at the Wayback Machine
  6. ^ a b Celgene, 30 June 2010, "Celgene To Acquire Abraxis BioScience Inc." (press release), 8/6/2015.
  7. ^ Van Arnum, Patricia (1 August 2007). "Abraxis BioScience Plans to Separate into Two Companies". Pharmaceutical Technology. Archived from the original on 24 September 2015. Retrieved 2015-08-07 – via Highbeam Research.
  8. ^ a b Gopalakrishnan, Lisa (13 November 2007). FORM 8-K (Report). United States Securities and Exchange Commission. Retrieved 2015-08-07.

External links[]

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