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
