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Abraxis BioScience Snapshot
Abraxis BioScience was out to give cancer patients a shot in the arm. The company's oncology and research division worked to develop a line of injectable drugs starting with Abraxane, its patented version of cancer drug paclitaxel that was approved to treat breast cancer. Abraxane was approved for marketing in about 40 countries, and Abraxis BioScience was working to get it on the market in others. It used a direct sales force and independent representatives to market the drug to oncologists and cancer centers around the globe. Abraxis BioScience was acquired and aborbed by Celgene for about $3 billion in late 2010.
