Celgene completes Abraxis BioScience purchase

Celgene Corporation has completed its purchase of US biotechnology company Abraxis BioScience, which is developing cancer drugs.

Celgene Corporation has completed its purchase of US biotechnology company Abraxis BioScience, which is developing cancer drugs. The deal adds breast cancer drug Abraxane (nanoparticle albumin-bound paclitaxel) to Celgene’s portfolio of cancer products. Abraxane will continue to be marketed and supplied in Australia and New Zealand by Specialised Therapeutics Australia (STA), despite the acquisition of Abraxis Bioscience, which is STA’s partner in the US.

Celgene will take responsibility for ongoing global clinical development of Abraxane into new indications.

Abraxane is approved for metastatic breast cancer in more than 40 countries including the US, Canada, EU, Japan and China.

In Australia, Abraxane has also been granted orphan drug designation by the Therapeutic Goods Administration for the treatment of pancreatic cancer. Additionally it is currently in Phase III trials for the treatment of non-small cell lung, malignant melanoma and metastatic pancreatic ca