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news.Abraxis BioScience, Inc. (Abraxis BioScience) board has approved a strategic plan to establish an Abraxis Health, Inc., an independent, stand-alone company, that will concentrate on finding disease biomarkers to develop personalized treatments. The move will allow Abraxis Health, Inc. to focus on creating markets for Abraxane, which is cleared to treat breast cancer. The spinoff will be called Abraxis Health.
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“The opportunity that lies in front of Abraxis BioScience is enormous and is a result of the validated science underlying the company’s proprietary nab(R) technology in the clinical setting,” said Patrick Soon-Shiong, chairman and chief executive officer of Abraxis BioScience. “In 2009, we plan to initiate nine pivotal registrational trials in multiple tumor types, including breast cancer, lung, melanoma and pancreatic cancers. In addition, Abraxis has initiated 65 investigator-sponsored Phase 2 studies and 16 Phase 1 studies. Together with the current approval of ABRAXANE in 36 countries and the continuing need to establish infrastructure for the global launch of this compound, the immense and exciting task that lies ahead should be the primary focus of Abraxis BioScience.”