Industry | Pharmaceutical |
---|---|
Founded | 2001[1] | in Los Angeles, California
Founder | Dr. Patrick Soon-Shiong |
Defunct | 2010 |
Headquarters | , |
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$359 million (2009) [2] |
US$−113 million (2009) [2] | |
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] |
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]
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]