SCHAUMBURG, Ill., Dec. 21 /PRNewswire-FirstCall/ -- American Bioscience Inc. and American Pharmaceutical Partners, Inc. , today announced the appointment of Barry Flannelly, Pharm.D, MBA to the newly created position of global vice president sales and marketing, Abraxis Oncology, APP's proprietary drug sales and marketing division. Flannelly will join the company effective January 5, 2006.
"Barry's seasoned executive skills and expertise in all facets of global sales and marketing of proprietary oncology drugs make him ideally suited to lead our sales and marketing efforts for ABRAXANE(R) worldwide," said Patrick Soon-Shiong, M.D., chairman and chief executive officer of APP. "He was instrumental in the market growth of Taxotere(R) from 1997 through 2004 and oversaw its continued expansion and utility from a drug used mostly for metastatic breast cancer to indications in lung cancer, prostate cancer and early breast cancer. Barry achieved VP status with both sales and marketing responsibilities for Taxotere in 2003 and 2004. We are especially pleased to welcome him during this exciting time in the growth of our company."
Barry Flannelly said, "I have spent much of my career introducing some of the most important taxane therapies used today. Taxane treatment has evolved and continues to play an important role in cancer management. Having monitored the many positive attributes of ABRAXANE and the novel nab(TM) technology platform, I am enthusiastic about joining Abraxis Oncology and participating in the global rollout of this exciting, next-generation chemotherapeutic drug."
Prior to joining APP, Flannelly, 48, served as the global brand leader at Novartis Oncology for the breast cancer drug, Femara(R). Earlier, Flannelly served in a variety of senior oncology sales and marketing positions at Sanofi-Aventis and its predecessor companies, Aventis and Rhone-Poulenc Rorer. While at Sanofi-Aventis, he was responsible for the strategic development of Taxotere for a number of indications as well as for the sales and marketing strategy of Taxotere, Anzemet(R) and other oncology products.
Before joining the pharmaceutical industry, Flannelly was a practicing pharmacist and managed pharmacy services for the Johns Hopkins Oncology Center in Baltimore. He earned a doctor of pharmacy degree from the University of Maryland's School of Pharmacy, a master of business administration degree from the University of Baltimore, and a bachelor of science in pharmacy degree from the Massachusetts College of Pharmacy.
In November 2005, APP announced the signing of a definitive merger agreement with American BioScience, Inc. to create Abraxis BioScience, Inc., a fully integrated, global biopharmaceutical company. The transaction is expected to close in the first half of 2006. As part of this transaction, the combined company will have worldwide marketing rights to the proprietary drug ABRAXANE(R).
About American BioScience, Inc.
American BioScience, Inc. is a privately held biotechnology company focused on the discovery, development and delivery of next-generation therapeutics including biologically active molecules already existing within the human biological system, for the treatment of life-threatening diseases. ABI owns a majority interest in American Pharmaceutical Partners, Inc.
About American Pharmaceutical Partners, Inc.
American Pharmaceutical Partners, Inc. is a specialty drug company that develops, manufactures and markets injectable pharmaceutical products, focusing on the oncology, anti-infective and critical care markets. Abraxis Oncology, the proprietary division of APP, is devoted entirely to developing and promoting innovative, next-generation cancer therapies such as ABRAXANE(R) for Injectable Suspension (paclitaxel protein-bound particles for injectable suspension) (albumin-bound). For more information, visit APP's website at www.appdrugs.com and www.abraxisoncology.com.
Forward-looking statements in this document include statements regarding our expectations, beliefs, hopes, goals, intentions, initiatives or strategies, including statements regarding the expected time of completion of the merger and the benefits of the merger, including the creation of an integrated, global biopharmaceutical leader. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, unexpected delays in consummation of the merger, if at all, adverse market reactions to the proposed merger, failure of the benefits of the merger to materialize, difficulties in integrating the businesses and operations of the two companies, difficulties or delays in developing, testing, obtaining regulatory approval of, and producing and marketing any other products, including those in ABI's pipeline, the impact of pharmaceutical industry regulation, the impact of competitive products and pricing, the availability and pricing of ingredients used in the manufacture of pharmaceutical products, the ability to successfully manufacture products in a time-sensitive and cost effective manner, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties. Relevant information concerning risks can be found in APP's Form 10-K for the year ended December 31, 2004 and other documents filed by us with the Securities and Exchange Commission.
Femara(R) is a registered trademark of Novartis Pharmaceuticals Corporation. Anzemet(R) and Taxotere(R) are registered trademarks of Aventis Pharmaceuticals, Inc.
Contacts: American Pharmaceutical Partners, Inc.
Executive Vice President & CFO
Rob Whetstone/Robert Jaffe
American BioScience, Inc.; American Pharmaceutical Partners, Inc.