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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 in 2007. Abraxis's portfolio included the world's first protein-based nanoparticle chemotherapeutic compound, called nab Technology.[3] From this the company developed Abraxane, a treatment for metastatic breast cancer.[4]

In 2010, Abraxis BioScience was acquired by Celgene Corporation.[5]

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.[6] 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.[7] Under this new name, seventy-four trials were undertaken to test Abraxane against various cancer targets.[7] The drug, which was approved by the FDA in 2005, was the subject of a litigation (Elan Pharma v. Abraxis BioScience) for patent infringement.[8] In 2008, Abraxis was ordered to pay $55.2 million to Elan.[8]

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).[9] This reorganization was completed in November 2007.[10] During the reorganization, the new Abraxis Bioscience was known briefly as New Abraxis.[10]

In 2010, Abraxis BioScience was acquired by Celgene Corporation.[5] Per Celgene's website, as of at least 2016 Abraxis no longer exists as a named division within Celgene.

External links

References

  1. Company Overview of Abraxis BioScience, Inc. Bloomberg, retrieved October 17, 2016^
  2. Abraxis BioScience 2009 Abraxis BioScience^
  3. Abraxis BioScience, 2008, "Nab Technology", 10/11/2009^
  4. Hoovers.^
  5. Celgene, 30 June 2010, "Celgene To Acquire Abraxis BioScience Inc." (press release), 8/6/2015.^
  6. Jack W. Plunkett. Plunkett's Companion to the Almanac of American Employers 2008: Mid-Size Firms Plunkett Research, Ltd., 2008^
  7. Michael S. Sitrick. The Fixer: Secrets for Saving Your Reputation in the Age of Viral Media Simon and Schuster, 2018-01-08^
  8. Matthew Rimmer, Alison McLennan. Intellectual Property and Emerging Technologies: The New Biology Edward Elgar Publishing, 2012^
  9. Patricia Van Arnum. Abraxis BioScience Plans to Separate into Two Companies Pharmaceutical Technology, 1 August 2007, retrieved 2015-08-07^
  10. Lisa Gopalakrishnan. FORM 8-K United States Securities and Exchange Commission, 13 November 2007, retrieved 2015-08-07^