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November 25, 2008

Abraxis BioScience to Reacquire U.S. Rights to Abraxane from AstraZeneca

  • Abraxis BioScience is seeking to re-acquire the exclusive rights to market Abraxane® (paclitaxel protein-bound particles for injectable suspension) in the U.S. from AstraZeneca.

    In April of 2006, AstraZeneca inked a five and a half year copromotion agreement with Abraxis, under which Abraxis received an upfront fee of $200 million.

    “We believe the time has come to further build our commercialization platform for Abraxane in the U.S.,” said Patrick Soon-Shiong, M.D., chairman and CEO of Abraxis BioScience. “We have gained much in our collaboration with AstraZeneca and they have done a commendable job in building market share. ”

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