Abraxis BioScience

Abraxis BioScience
Industry	Pharmaceutical
Founded	2001 in Los Angeles, California
Founder	Dr. Patrick Soon-Shiong
Defunct	2010
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
Products	Protein-based therapeutics and technologies for treatment of cancer and other critical illnesses
Brands	Abraxane
Services	Cancer drugs
Revenue	US$359 million (2009)
Operating income	US$−113 million (2009)
Net income	US$−104 million (2009)
Total assets	US$1.068 billion (2009)
Total equity	US$846 million (2009)
Owner	Celgene
Number of employees	885 (2009)

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] It was formerly known as American Pharmaceutical Partners (APP), which as known for its injectable oncology, anti-infective and critical care.^[7] 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] 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.
^ Plunkett, Jack W. (2008). Plunkett's Companion to the Almanac of American Employers 2008: Mid-Size Firms. Plunkett Research, Ltd. ISBN 978-1-59392-107-1.
^ ^a ^b Sitrick, Michael S. (2018-01-08). The Fixer: Secrets for Saving Your Reputation in the Age of Viral Media. Simon and Schuster. ISBN 978-1-62157-435-4.
^ ^a ^b Rimmer, Matthew; McLennan, Alison (2012). Intellectual Property and Emerging Technologies: The New Biology. Cheltenham, UK: Edward Elgar Publishing. p. 271. ISBN 978-1-84980-246-8.
^ 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.
^ ^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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[bberg-1] "Company Overview of Abraxis BioScience, Inc". Bloomberg. Retrieved October 17, 2016.

[abr-2] ^ ^a ^b ^c ^d ^e ^f "Abraxis BioScience 2009". 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

[ir.celgene.com-6] Celgene, 30 June 2010, "Celgene To Acquire Abraxis BioScience Inc." (press release), 8/6/2015.

[7] Plunkett, Jack W. (2008). Plunkett's Companion to the Almanac of American Employers 2008: Mid-Size Firms. Plunkett Research, Ltd. ISBN 978-1-59392-107-1.

[:1-8] Sitrick, Michael S. (2018-01-08). The Fixer: Secrets for Saving Your Reputation in the Age of Viral Media. Simon and Schuster. ISBN 978-1-62157-435-4.

[:2-9] Rimmer, Matthew; McLennan, Alison (2012). Intellectual Property and Emerging Technologies: The New Biology. Cheltenham, UK: Edward Elgar Publishing. p. 271. ISBN 978-1-84980-246-8.

[10] 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.

[:0-11] Gopalakrishnan, Lisa (13 November 2007). FORM 8-K (Report). United States Securities and Exchange Commission. Retrieved 2015-08-07.

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