Abraxis Bioscience, Inc. (1409012) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2008

Abraxis Bioscience, Inc.

CIK: 1409012

Exhibit 99.1




News Release


11755 Wilshire Blvd., 20th Floor

Los Angeles, CA 90025







ABRAXANE Revenue for 2008 Fourth Quarter Grows to $89.8 Million; Increases to $335.6 Million for Full Year



Company Re-acquires Exclusive Rights to Market ABRAXANE in the U.S.



Abraxis Reports Full Year Net Loss of $276.8 Million, or Adjusted Net Income of $11.2 Million, Excluding Re-Acquisition Costs Related to U.S. ABRAXANE Rights of $158.9 Million



On a per share basis Company Reports Net Loss of $6.91, or Adjusted Net Income of $0.28, Excluding Re-Acquisition Costs of $3.94



ABRAXANE Launched in UK and Australia



ABRAXANE Closed 2008 with Continued Taxane Market Leadership, Capturing Highest All-time Share of 37.7 Percent in December 2008 in Metastatic Breast Cancer

LOS ANGELES, Calif. March 3, 2009 — Abraxis BioScience, Inc. (NASDAQ: ABII), a fully integrated biotechnology company, today reported financial results for the fourth quarter and full year ended December 31, 2008.

Fourth Quarter 2008 Highlights

Net revenue increased 1.5 percent to $92.2 million, compared with $90.8 million for the prior year period. Revenue from sales of ABRAXANE® (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) for the fourth quarter of 2008 was $89.8 million, compared with $88.8 million for the same period in 2007. Net revenue included recognition of revenue of $9.9 million initially deferred relating to the co-promotion agreement with AstraZeneca and license agreements with Taiho of Japan and Green Cross of South Korea, similar to the 2007 fourth quarter.

The following information was filed by Abraxis Bioscience, Inc. on Tuesday, March 3, 2009 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Abraxis Bioscience, Inc.'s financial trajectory

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Definitive Proxy Statement (Form DEF 14A)
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Abraxis Bioscience, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2009 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors


SEC Filing Tools
CIK: 1409012
Form Type: 10-K Annual Report
Accession Number: 0001193125-09-047452
Submitted to the SEC: Fri Mar 06 2009 3:36:40 PM EST
Accepted by the SEC: Fri Mar 06 2009
Period: Wednesday, December 31, 2008
Industry: Pharmaceutical Preparations

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