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Drug Names(s): nab-docetaxel
Description: ABI-008 is a microtubule stabilizer and a solvent-free, Tween-free nanometer-sized form of docetaxel that utilizes Abraxis’ proprietary nanoparticle albumin-bound or nab technology.
Deal Structure: In June 2010, Celgene and Abraxis jointly announced the signing of a definitive merger agreement in which Celgene has agreed to acquire Abraxis BioScience. Under the terms of the merger agreement, each share of Abraxis BioScience common stock will be converted into the right to receive an upfront payment of $58.00 in cash and 0.2617 shares of Celgene common stock. The upfront payment values Abraxis BioScience at approximately $2.9 billion, net of cash. Each share will also receive one tradeable Contingent Value Right (CVR), which entitles its holder to receive payments for future regulatory milestones and commercial royalties. In October 2010, the acquisition was completed.
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