Celgene acquired Abraxis BioScience (owner of Abraxane) in 2010 for approximately $2.9 billion. This figure would have included a combination of cash, Celgene stock, and contingent value rights (CVRs). The CVRs would allow Abraxis shareholders to receive additional payments if certain milestones, particularly related to the development and sales performance of Abraxane, were achieved after the acquisition.
When Celgene acquired Abraxis BioScience in 2010, Abraxane was already an FDA-approved drug. It wasn't in development; rather, it was in the post-approval commercialization stage. Abraxane had been approved by the FDA for the treatment of breast cancer in 2005, and at the time of the acquisition, it was being marketed for that indication.
Celgene acquired Abraxis BioScience (owner of Abraxane) in 2010...
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