Abraxis BioScience

Last updated
Abraxis BioScience
IndustryPharmaceutical
Founded2001 (2001) in Los Angeles, California [1]
FounderDr. Patrick Soon-Shiong
Defunct2010
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
ProductsProtein-based therapeutics and technologies for treatment of cancer and other critical illnesses
Brands Abraxane
ServicesCancer drugs
RevenueIncrease2.svgUS$359 million(2009) [2]
Decrease2.svgUS$−113 million(2009) [2]
Decrease2.svgUS$−104 million(2009) [2]
Total assets Decrease2.svgUS$1.068 billion(2009) [2]
Total equity Decrease2.svgUS$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]

Contents

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 ]

Related Research Articles

<span class="mw-page-title-main">Agilent Technologies</span> American technology company

Agilent Technologies, Inc. is a global company headquartered in Santa Clara, California, that provides instruments, software, services, and consumables for laboratories. Agilent was established in 1999 as a spin-off from Hewlett-Packard. The resulting IPO of Agilent stock was the largest in the history of Silicon Valley at the time. From 1999 to 2014, the company produced optics, semiconductors, EDA software and test and measurement equipment for electronics; that division was spun off to form Keysight. Since then, the company has continued to expand into pharmaceutical, diagnostics & clinical, and academia & government (research) markets.

<span class="mw-page-title-main">Takeda Pharmaceutical Company</span> Japanese pharmaceutical company

The Takeda Pharmaceutical Company Limited is a Japanese multinational pharmaceutical company, with partial American and British roots. It is the largest pharmaceutical company in Asia and one of the top 20 largest pharmaceutical companies in the world by revenue. The company has over 49,578 employees worldwide and achieved US$19.299 billion in revenue during the 2018 fiscal year. The company is focused on oncology, rare diseases, neuroscience, gastroenterology, plasma-derived therapies and vaccines. Its headquarters is located in Chuo-ku, Osaka, and it has an office in Nihonbashi, Chuo, Tokyo. In January 2012, Fortune Magazine ranked the Takeda Oncology Company as one of the 100 best companies to work for in the United States. As of 2015, Christophe Weber was appointed as the CEO and president of Takeda.

<span class="mw-page-title-main">AstraZeneca</span> British pharmaceutical company

AstraZeneca plc is an Anglo-Swedish multinational pharmaceutical and biotechnology company with its headquarters at the Cambridge Biomedical Campus in Cambridge, England. It has a portfolio of products for major diseases in areas including oncology, cardiovascular, gastrointestinal, infection, neuroscience, respiratory, and inflammation. It has been involved in developing the Oxford–AstraZeneca COVID-19 vaccine.

<span class="mw-page-title-main">Bristol Myers Squibb</span> American pharmaceutical company

The Bristol-Myers Squibb Company, doing business as Bristol Myers Squibb (BMS), is an American multinational pharmaceutical company. Headquartered in Princeton, New Jersey, BMS is one of the world's largest pharmaceutical companies and consistently ranks on the Fortune 500 list of the largest U.S. corporations. For fiscal 2022, it had a total revenue of $46.2 billion.

<span class="mw-page-title-main">Roche</span> Swiss multinational healthcare company

<span class="mw-page-title-main">Celgene</span> American biopharmaceutical company

Celgene Corporation is a pharmaceutical company that makes cancer and immunology drugs. Its major product is Revlimid (lenalidomide), which is used in the treatment of multiple myeloma, and also in certain anemias. The company is incorporated in Delaware, headquartered in Summit, New Jersey, and a subsidiary of Bristol Myers Squibb (BMS).

<span class="mw-page-title-main">Qiagen</span> German biotechnology company

QIAGEN is a provider of sample and assay technologies for molecular diagnostics, applied testing, academic and pharmaceutical research. The company operates in more than 35 offices in over 25 countries. QIAGEN N.V., the global corporate headquarter of the QIAGEN group, is located in Venlo, The Netherlands. European, American, and Asian regional headquarters are located in respectively Hilden, Germany; Germantown, Maryland United States; and Shanghai, China. QIAGEN's shares are listed at the NYSE and at the Frankfurt Stock Exchange in the Prime Standard. Thierry Bernard is the company's Chief Executive Officer(CEO). The main operative headquarters are located in Hilden, Germany.

BioMarin Pharmaceutical Inc. is an American biotechnology company headquartered in San Rafael, California. It has offices and facilities in the United States, South America, Asia, and Europe. BioMarin's core business and research is in enzyme replacement therapies (ERTs). BioMarin was the first company to provide therapeutics for mucopolysaccharidosis type I, by manufacturing laronidase. BioMarin was also the first company to provide therapeutics for phenylketonuria (PKU).

<span class="mw-page-title-main">Astellas Pharma</span> Japanese pharmaceutical company

Astellas Pharma Inc. is a Japanese multinational pharmaceutical company, formed on 1 April 2005 from the merger of Yamanouchi Pharmaceutical Co., Ltd. and Fujisawa Pharmaceutical Co., Ltd.. On February 5, 2020, the company announced management changes effective from April 1, 2020.

John Mendlein is a biotech executive who has held leadership positions in biotech companies in Boston, San Diego and Toronto.

Protein-bound paclitaxel, also known as nanoparticle albumin–bound paclitaxel or nab-paclitaxel, is an injectable formulation of paclitaxel used to treat breast cancer, lung cancer and pancreatic cancer, among others. Paclitaxel kills cancer cells by preventing the normal breakdown of microtubules during cell division. In this formulation, paclitaxel is bonded to albumin as a delivery vehicle. It is manufactured and sold in the United States by Celgene under the trade name Abraxane where it is designated as an orphan drug as first-line treatment, in combination with gemcitabine, for the orphan disease "metastatic adenocarcinoma of the pancreas".

Biocompatibles International plc is a medical technology company in the field of drug-device combination products. It was acquired by BTG plc in 2010, which was, in turn, acquired by Boston Scientific in 2019.

Ventana Medical Systems, Inc. was a medical device company that develops, manufactures, and markets instrument reagent systems that automate tissue and slide staining in anatomic pathology laboratories. These products assist in the diagnosis and treatment of cancer and infectious diseases.

Amneal Pharmaceuticals, Inc. is an American publicly traded generics and specialty pharmaceutical company. The company is headquartered in Bridgewater, New Jersey.

Two River Group Holdings is a New York-based venture capital firm and merchant bank focused on the life science sector. It specializes in investments in life science, biotechnology, and in firms focused on developing preventive and therapeutic technologies for a broad spectrum of disease areas including oncology, cardiovascular disease, neurological disorders, and companion animal health care.

OPKO Health is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".

Agios Pharmaceuticals Inc. is a public American pharmaceutical company pioneering therapies for genetically defined diseases, with a near-term focus on developing therapies for hemolytic anemias. The company was founded in 2008 by Lewis Cantley, Tak Mak and Craig Thompson. Agios is a Delaware corporation headquartered in Cambridge, Massachusetts. The company tendered an initial public offering in July 2013.

Fortress Biotech Inc., commonly known as Fortress Bio, is a biopharmaceutical company that acquires, develops, and commercializes innovative pharmaceutical and biotechnology products. Led by CEO Lindsay A. Rosenwald, M.D., Fortress and most of its subsidiary companies are headquartered in Bay Harbor Islands, Florida.

Crown Bioscience is a global contract research organization (CRO) that provides preclinical and translational research services to accelerate drug discovery and development. Founded in 2006, Crown Bioscience is headquartered in San Diego, California. It also has 14 other sites throughout the United States, Europe, and APAC. The company offers platforms and services to advance oncology and immuno-oncology.

BeiGene is a global biotechnology company that specializes in the development of drugs for cancer treatment. Founded in 2010 by Xiaodong Wang and chief executive officer John V. Oyler, the company has offices in Asia, North America, Australia and Europe. BeiGene has developed several pharmaceuticals, including tislelizumab, a checkpoint inhibitor, and zanubrutinib, a Bruton's tyrosine kinase inhibitor.

References

  1. 1 2 3 4 "Company Overview of Abraxis BioScience, Inc". Bloomberg . Retrieved October 17, 2016.
  2. 1 2 3 4 5 6 "Abraxis BioScience 2009". Abraxis BioScience.
  3. ↑ BioPortfolio, 2007, "InDepth Summary", 10/11/2009[ dead link ]
  4. ↑ Abraxis BioScience, 2008, "Nab Technology", 10/11/2009
  5. ↑ Hoovers. Archived 2015-09-24 at the Wayback Machine
  6. 1 2 Celgene, 30 June 2010, "Celgene To Acquire Abraxis BioScience Inc." (press release), 8/6/2015.
  7. ↑ Plunkett, Jack W. (2008). Plunkett's Companion to the Almanac of American Employers 2008: Mid-Size Firms. Plunkett Research, Ltd. ISBN   978-1-59392-107-1.
  8. 1 2 Sitrick, Michael S. (2018-01-08). The Fixer: Secrets for Saving Your Reputation in the Age of Viral Media. Simon and Schuster. ISBN   978-1-62157-435-4.
  9. 1 2 Rimmer, Matthew; McLennan, Alison (2012). Intellectual Property and Emerging Technologies: The New Biology. Cheltenham, UK: Edward Elgar Publishing. p. 271. ISBN   978-1-84980-246-8.
  10. ↑ Van Arnum, Patricia (1 August 2007). "Abraxis BioScience Plans to Separate into Two Companies". Pharmaceutical Technology. Archived from the original on 24 September 2015. Retrieved 2015-08-07– via Highbeam Research.
  11. 1 2 Gopalakrishnan, Lisa (13 November 2007). FORM 8-K (Report). United States Securities and Exchange Commission. Retrieved 2015-08-07.


This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.