SCHAUMBURG, Ill., Feb. 9 /PRNewswire-FirstCall/ -- As part of its webcast presentation at the Merrill Lynch Global Pharmaceutical, Biotechnology and Medical Device Conference at the Grand Hyatt New York, American Pharmaceutical Partners, Inc. today reiterated its financial guidance for the 2005 full year ABRAXANE net sales of between $125 - $140 million. The company also confirmed that its Melrose Park, IL, facility is now fully operational.
The company intends to report its 2005 financial results before the market opens on Friday, February 17, 2006. The company also said that senior management will host an investor conference call that same day at 11:30 a.m. Eastern to review the company's 2005 financial results. The conference call will be available to interested parties through a live audio Internet broadcast at www.appdrugs.com and www.earnings.com. The call will also be archived and accessible at both sites for one year.
Management also noted that the information statement regarding American Pharmaceutical Partners' pending merger with American BioScience Inc. is expected to be filed and available by the end of next week.
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.
Contacts: American Pharmaceutical Partners, Inc. Nicole Williams Executive Vice President & CFO (847) 969-2700 Robert Jaffe/Rob Whetstone PondelWilkinson Inc. (310) 279-5963
American Pharmaceutical Partners, Inc.CONTACT: Nicole Williams, Executive Vice President & CFO of AmericanPharmaceutical Partners, Inc., +1-847-969-2700; or Robert Jaffe or RobWhetstone, both of PondelWilkinson Inc., +1-310-279-5963, for AmericanPharmaceutical Partners, Inc.
