LOS ANGELES--(BUSINESS WIRE)--Abraxis BioScience, Inc. (NASDAQ:ABBI) today announced details of its pending separation of its proprietary business from its hospital-based business, which will enable each company to deliver on their strategic visions and compete more effectively in their specialized marketplaces. This transaction will separate Abraxis into two independent publicly traded companies: the new Abraxis BioScience, Inc., which will consist of Abraxis Oncology and Abraxis Research, and APP Pharmaceuticals, Inc. (APP), formerly known as Abraxis Pharmaceutical Products. This transaction is expected to close on November 13, 2007.
