Abraxis BioScience
{{Short description|Former biopharmaceutical and nano-medicine company}}
{{Infobox company
| name = Abraxis BioScience
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| industry = Pharmaceutical
| founded = {{sda|2001}} in Los Angeles, California{{cite web |url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=36219009 |title=Company Overview of Abraxis BioScience, Inc. |publisher=Bloomberg |access-date=October 17, 2016}}
| founder = Dr. Patrick Soon-Shiong
| defunct = {{end date|2010}}
| hq_location =
| hq_location_city = Los Angeles
| hq_location_country = United States
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| key_people = {{ubl
|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 = {{increase}} {{US$|359 million}} {{small|(2009)}}{{Cite web|url = https://files.docoh.com/10-K/0001193125-10-055402/d10k.htm.gz#toc|title = Abraxis BioScience 2009 |date= |website=Abraxis BioScience |access-date= }}
| operating_income = {{negative decrease}} {{US$|-113 million}} {{small|(2009)}}
| net_income = {{negative decrease}} {{US$|-104 million}} {{small|(2009)}}
| assets = {{decrease}} {{US$|1.068 billion}} {{small|(2009)}}
| equity = {{decrease}} {{US$|846 million}} {{small|(2009)}}
| num_employees = 885 {{small|(2009)}}
| owner = Celgene
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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.BioPortfolio, 2007, "[http://www.bioportfolio.com/biocorporate/32331-Abraxis_Bioscience.html InDepth Summary]", 10/11/2009{{Dead link|date = August 2015}} Abraxis's portfolio included the world's first protein-based nanoparticle chemotherapeutic compound, called nab Technology.Abraxis BioScience, 2008, "[https://web.archive.org/web/*/http://www.abraxisbio.com/rnd_platform_nab.htm Nab Technology]", 10/11/2009 From this the company developed Abraxane, a treatment for metastatic breast cancer.[http://www.hoovers.com/global/cobrands/nasdaq/factsheet.xhtml?ID=103876 Hoovers]. {{Webarchive|url=https://web.archive.org/web/20150924051223/http://www.hoovers.com/global/cobrands/nasdaq/factsheet.xhtml?ID=103876 |date=2015-09-24 }}
In 2010, Abraxis BioScience was acquired by Celgene Corporation.Celgene, 30 June 2010, "[http://ir.celgene.com/releasedetail.cfm?releaseid=799482 Celgene To Acquire Abraxis BioScience Inc.]" (press release), 8/6/2015.
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.{{Cite book |last=Plunkett |first=Jack W. |title=Plunkett's Companion to the Almanac of American Employers 2008: Mid-Size Firms |publisher=Plunkett Research, Ltd. |year=2008 |isbn=978-1-59392-107-1 |language=en}} 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.{{Cite book |last=Sitrick |first=Michael S. |url=https://books.google.com/books?id=SD4_DgAAQBAJ&dq=Abraxis+BioScience&pg=PT111 |title=The Fixer: Secrets for Saving Your Reputation in the Age of Viral Media |date=2018-01-08 |publisher=Simon and Schuster |isbn=978-1-62157-435-4 |language=en}} 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.{{Cite book |last1=Rimmer |first1=Matthew |title=Intellectual Property and Emerging Technologies: The New Biology |last2=McLennan |first2=Alison |publisher=Edward Elgar Publishing |year=2012 |isbn=978-1-84980-246-8 |location=Cheltenham, UK |pages=271 |language=en}} 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}}).{{Cite news|url = http://www.highbeam.com/doc/1P3-1345586341.html|archive-url = https://web.archive.org/web/20150924202900/http://www.highbeam.com/doc/1P3-1345586341.html|url-status = dead|archive-date = 24 September 2015|title = Abraxis BioScience Plans to Separate into Two Companies|last = Van Arnum|first = Patricia|date = 1 August 2007|work = Pharmaceutical Technology|access-date = 2015-08-07|via = Highbeam Research}} This reorganization was completed in November 2007.{{Cite report|date = 13 November 2007|title = FORM 8-K|url = https://www.sec.gov/Archives/edgar/data/1409012/000119312507250450/d8k.htm|first = Lisa|last = Gopalakrishnan|publisher = United States Securities and Exchange Commission|access-date = 2015-08-07}} 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.{{Citation needed|date=September 2023}}
References
{{Reflist}}
External links
{{Portal|Companies}}
- [https://web.archive.org/web/20100209031626/http://www.abraxisbio.com/ Company website]
- [https://web.archive.org/web/*/http://www.abraxisbio.com/ Wayback Machine]
{{DEFAULTSORT:Abraxis Bioscience}}
Category:Defunct biotechnology companies of the United States
Category:Defunct pharmaceutical companies of the United States
Category:Biotechnology companies established in 2001
Category:Pharmaceutical companies established in 2001
Category:2001 establishments in California
Category:Biotechnology companies disestablished in 2010
Category:Pharmaceutical companies disestablished in 2010
Category:2010 disestablishments in California
Category:Health care companies based in California
Category:2010 mergers and acquisitions
Category:American companies disestablished in 2010
Category:American companies established in 2001
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