Published: November 04, 2009
Abraxis Health Dedicates State of the Art Nanotechnology & Biologics Facility in Phoenix, Arizona
LOS ANGELES - (BUSINESS WIRE) - Abraxis Health, a fully-integrated personalized healthcare division of
Abraxis BioScience, Inc. (NASDAQ:ABII), today announced the dedication
of its new manufacturing facility in Phoenix, Arizona. The state of the
art biopharma manufacturing plant represents a $70 million investment by
LA-based Abraxis, and will create up to 200 high tech jobs. The new
facility will manufacture ABRAXANE, the first solvent-free
chemotherapy treatment option for metastatic breast cancer, which was
developed using Abraxis BioScience's proprietary nab
technology platform. The company now has multiple agreements in place
for the development of novel, insoluble compounds using the
nanobiologics technology employed at the Phoenix plant.
The facility will be the world's largest and most sophisticated protein
nanobiologics manufacturing plant, with annual production capacity of
over 10 million units, and the capability to expand to 20 million units,
suitable for worldwide distribution. The site, formerly owned by Watson
Pharmaceuticals, was purchased by Abraxis in July 2007. Abraxis has
hired more than 100 former Watson employees, recruited additional staff
from among the local skilled workforce, and will continue to recruit as
the facility ramps up production.
"The outlook for Abraxis is immensely encouraging," said founder and
Chairman Dr. Patrick Soon-Shiong. "As we continue to grow, these new
premises in Phoenix will become the flagship manufacturing facility for
our cutting edge technology."
State Attorney General Terry Goddard commented, "Arizona is proud to
welcome Abraxis as a powerful new addition to our growing life sciences
sector."
"This is great news for Phoenix," said Mayor Phil Gordon. "We are
delighted that Abraxis has chosen our city for this state of the art
nanotech manufacturing plant, bringing highly skilled jobs and a welcome
boost for our economy."
State, city and business leaders attended today's ceremony to dedicate
the new facility, including Attorney General Goddard and Mayor Phil
Gordon.
About Abraxis BioScience, Inc.
Abraxis Health, which will operate the Phoenix facility, is a division
of Abraxis Bioscience Inc. Abraxis BioScience is a fully integrated
global biotechnology company dedicated to the discovery, development and
delivery of next-generation therapeutics and core technologies that
offer patients safer and more effective treatments for cancer and other
critical illnesses. The company's portfolio includes the world's first
and only protein-bound nanoparticle chemotherapeutic compound (ABRAXANE),
which is based on the company's proprietary tumor targeting technology
known as the nab platform. The first FDA approved
product to use this nab platform, ABRAXANE, was launched in 2005
for the treatment of metastatic breast cancer and is now approved in 38
countries. The company continues to expand the nab platform
through a robust clinical program and deep product pipeline. Abraxis
trades on the NASDAQ Global Market under the symbol ABII. For more
information about the company and its products, please visit www.abraxisbio.com.
Investors and Media Inquiries:
Abraxis BioScience, Inc.
Maili
Bergman, 310-883-1300
investorrelations@abraxisbio.com
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