Abraxis BioScience

Abraxis BioScience was a global biopharmaceutical, and nano-medicine company that developed treatments for critically ill patients. It had over 2000 employees worldwide inb 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]

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
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]
OwnerCelgene
Number of employees
885 (2009)[2]

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. "Company Overview of Abraxis BioScience, Inc". Bloomberg. Retrieved October 17, 2016.
  2. "Abraxis BioScience 2009". Abraxis BioScience. Abraxis BioScience.
  3. BioPortfolio, 2007, "InDepth Summary", 10/11/2009
  4. Abraxis BioScience, 2008, "Nab Technology", 10/11/2009
  5. Hoovers. Archived 2015-09-24 at the Wayback Machine
  6. 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. Gopalakrishnan, Lisa (13 November 2007). FORM 8-K (Report). United States Securities and Exchange Commission. Retrieved 2015-08-07.
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