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Article: Abraxis Partners Abraxane, Buys AstraZeneca Portfolio.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Senior Staff Writer
A little more than a year after Abraxane gained FDA approval as a treatment for breast cancer, its developer, Abraxis BioScience Inc., has signed a co-promotion agreement with AstraZeneca plc, essentially doubling the promotional investment of the product.
In a separate deal, London-based AstraZeneca divested its U.S. anesthetic and analgesic products - which had sales of $217 million in 2005 - to Abraxis, now one of the largest manufacturers of injectable pharmaceuticals products for critical care use in hospitals and clinics.
"In doing this, we were able to not only build the injectable side of the business with the branded ...