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February 26th, 2005
Local drug company gains assistance
Schaumburg-based American Pharmaceutical Partners Inc. defied the skeptics who never believed it would succeed in bringing to market Abraxane, the company's first proprietary product, a late-stage breast cancer treatment.
After news of the Food and Drug Administration's approval hit on Jan. 10, shares of American Pharmaceutical soared to a 52-week high of $57 per share, more than double its 52-week low, before settling back to its current trading price of about $52 a share.
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