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.^[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

Industry	Pharmaceutical
Founded	2001; 24 years ago (2001) in Los Angeles, California[1]
Founder	Dr. Patrick Soon-Shiong
Defunct	2010 (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$359 million (2009)[2]
Operating income	US$−113 million (2009)[2]
Net income	US$−104 million (2009)[2]
Total assets	US$1.068 billion (2009)[2]
Total equity	US$846 million (2009)[2]
Owner	Celgene
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] 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]}