Company News: Celgene and Abraxis BioScience

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New Jersey-based biotech Celgene announced an agreement to purchase Abraxis BioScience, a biotech focused on cancer treatments, for $2.9 billion. Abraxis BioScience markets Abraxane, a chemotherapy treatment option for metastatic breast cancer, which netted $314.5 million in 2009, down from $335.6 in 2008, according to an Abraxis annual report.
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