Bioscience

Abraxis stockholders vote in favor of acquisition by Celgene

October 13, 2010

By Flinn Foundation

[Source: CB Online] – Celgene Corp. and Abraxis Bioscience Inc. said Wednesday that Abraxis’ stockholders voted in favor of its acquisition by Celgene.

Celgene said in June that it would buy Abraxis for about $2.9 billion in a deal to expand its cancer treatment offerings.

Abraxis only has approved drug: Abraxane, which is a breast cancer treatment that has potential to be used as a treatment for other kinds of cancer.

For more information: Abraxis stockholders vote in favor of acquisition by Celgene; deal expected to close Friday