Five-year agreement to be terminated early.
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. ”
