Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > News > Abraxis Fires AstraZeneca, Gets Fired Up

November 26th, 2008

Abraxis Fires AstraZeneca, Gets Fired Up

Abstract:
Buoyed by deep pockets filled with cash after it separated from its generic drug business, Abraxis Bioscience (Nasdaq: ABII) is moving into the deep end with the big boys. The platform drugmaker decided to end its marketing agreement with AstraZeneca (NYSE: AZN) and sell its cancer drug Abraxane by itself.

It'll cost the company $268 million to get out of the partnership, but the timing seems right; Abraxane has been competing well against the other taxanes -- Bristol-Myers Squibb's (NYSE: BMY) Taxol and Sanofi-Aventis' (NYSE: SNY) Taxotere -- in the metastatic breast cancer market and is poised for growth into other cancers. It also has compounds in its pipeline that could be sold using the same drug delivery technology, so building out now isn't unreasonable.

The agreement still needs to be approved by Abraxis' board, but a thumbs-up seems likely, because if the company stays with AstraZeneca, it will have to start paying a commission of 50% -- more than double the 22% commission that AstraZeneca currently gets.

Source:
fool.com

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

Guo Lab Shows Potential of RNA as Heat-resistant Polymer Material for Nanoarchitectures April 23rd, 2014

National Space Society Congratulates SpaceX on the Success of CRS-3 and the First Flight of the Falcon 9R April 22nd, 2014

Investments/IPO's/Splits

Harris & Harris Group Notes the Receipt of Proceeds From the Sale of Molecular Imprints' Semiconductor Business to Canon April 22nd, 2014

Harris & Harris Group Continues Its Blog Series to Highlight Most Impactful Portfolio Companies With Champions Oncology, Inc. April 17th, 2014

Nanometrics to Announce First Quarter Financial Results on April 29, 2014 April 9th, 2014

Harris & Harris Group Notes Mersana's Collaboration Agreement With Subsidiary of Takeda Pharmaceutical Co. April 8th, 2014

Nanomedicine

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

Cloaked DNA nanodevices survive pilot mission: Successful foray opens door to virus-like DNA nanodevices that could diagnose diseased tissues and manufacture drugs to treat them April 22nd, 2014

Berkeley Lab Researchers Demonstrate First Size-based Chromatography Technique for the Study of Living Cells April 22nd, 2014

Amino-functionalized carbon nanotubes act as a carrier for nerve growth factor April 21st, 2014

Announcements

Study finds long-term survival of human neural stem cells transplanted into primate brain April 23rd, 2014

High-Performance, Low-Cost Ultracapacitors Built with Graphene and Carbon Nanotubes: Future devices based on technology could bridge gap between batteries and conventional capacitors in portable electronics and hybrid electric vehicles April 23rd, 2014

Guo Lab Shows Potential of RNA as Heat-resistant Polymer Material for Nanoarchitectures April 23rd, 2014

National Space Society Congratulates SpaceX on the Success of CRS-3 and the First Flight of the Falcon 9R April 22nd, 2014

NanoNews-Digest
The latest news from around the world, FREE







  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE