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Abraxis BioScience

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Former biopharmaceutical and nano-medicine company
Abraxis BioScience
IndustryPharmaceutical
Founded2001 (2001) in Los Angeles, California
FounderDr. Patrick Soon-Shiong
Defunct2010
HeadquartersLos Angeles, United States
Key peopleMr. 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$359 million (2009)
Operating incomeDecrease US$−113 million (2009)
Net incomeDecrease US$−104 million (2009)
Total assetsDecrease US$1.068 billion (2009)
Total equityDecrease US$846 million (2009)
OwnerCelgene
Number of employees885 (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. Abraxis's portfolio included the world's first protein-based nanoparticle chemotherapeutic compound, called nab Technology. From this the company developed Abraxane, a treatment for metastatic breast cancer.

In 2010, Abraxis BioScience was acquired by Celgene Corporation.

History

Abraxis was incorporated in 2001 in Los Angeles. It was formerly known as American Pharmaceutical Partners (APP), which as known for its injectable oncology, anti-infective and critical care. Besides cancer treatments, it provided treatment for multiple sclerosis, Alzheimer's, and some cardiovascular diseases. It had manufacturing plants in Melrose Park, Illinois and Phoenix, Arizona. By 2005, Dr. Patrick Soon-Shiong merged American BioScience and the publicly-held APP, naming it Abraxis BioScience. Under this new name, seventy-four trials were undertaken to test Abraxane against various cancer targets. The drug, which was approved by the FDA in 2005, was the subject of a litigation (Elan Pharma v. Abraxis BioScience) for patent infringement. In 2008, Abraxis was ordered to pay $55.2 million to Elan.

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

In 2010, Abraxis BioScience was acquired by Celgene Corporation. 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.
  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. 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.
  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.
  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.
  11. ^ Gopalakrishnan, Lisa (13 November 2007). FORM 8-K (Report). United States Securities and Exchange Commission. Retrieved 2015-08-07.

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