FDAnews Drug Daily Bulletin

AMERICAN PHARMACEUTICAL TO MERGE WITH PARENT

Nov. 29, 2005
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American Pharmaceutical Partners Inc. (APPX.O: Quote, Profile, Research), a specialist in generic hospital drugs, said on Monday it would merge with its parent company, privately held American BioScience Inc., sending its shares down as much as 16 percent. The all-stock deal, which will combine the companies under the new name Abraxis BioScience, will centralize sales of breast cancer drug Abraxane, which gained U.S. regulatory approval this year.

Reuters (http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-11-28T145517Z_01_N28233420_RTRIDST_0_HEALTH-APP-UPDATE-2.XML)