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Mergers & Acquisitions

Jul. 2, 2010

Firms Advise on Pharma Merger

Biopharmaceutical company Celgene Corp. acquired Abraxis BioScience Inc. in a $2.9 billion deal approved by both companies' boards of directors.

By Kari Hamanaka

Daily Journal Staff Writer

Biopharmaceutical company Celgene Corp. acquired Abraxis BioScience Inc. in a $2.9 billion deal approved by both companies' boards of directors. The sale was announced Wednesday and is expected to close in the fourth quarter pending stockholder approval.

Abraxis is the developer of Abraxane, a U.S. Food and Drug Administration-approved chemotherapy drug treatment used in metastat...

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