New Zealand MEDSAFE approves ABRAXANE for metastatic breast cancer

Abraxis BioScience, Inc. (NASDAQ:ABII), a fully integrated, global biotechnology company, and Specialised Therapeutics Ltd. today announced that MEDSAFE, the New Zealand Medicines and Medical Devices Safety Authority, has approved for marketing ABRAXANE^® (nanoparticle albumin-bound paclitaxel) for the treatment of metastatic breast cancer after failure of anthracycline therapy.

“In the U.S. and Australia ABRAXANE has rapidly become the taxane treatment of choice in its approved indication”

Abraxis BioScience granted exclusive marketing rights to Specialised Therapeutics for ABRAXANE in New Zealand. Specialised Therapeutics will commence distribution upon receiving reimbursement approval of ABRAXANE from the New Zealand pharmaceutical reimbursement authority, Pharmac. ABRAXANE is currently fully reimbursed for "Metastatic breast cancer after failure of prior therapy" in Australia under the Pharmaceutical Benefits Scheme.

"In the U.S. and Australia ABRAXANE has rapidly become the taxane treatment of choice in its approved indication," said Patrick Soon-Shiong, M.D., Executive Chairman of Abraxis BioScience. "We are pleased to provide this new treatment option for women in New Zealand with metastatic breast cancer."

"ABRAXANE offers a safer and more efficacious taxane therapy for New Zealand women with metastatic breast cancer," said Carlo Montagner, Chief Executive Officer of Specialised Therapeutics. "Discussions with Pharmac will commence shortly and we hope to make ABRAXANE available as soon as an agreement with Pharmac is reached."

With the approval in New Zealand, ABRAXANE is now approved in 41 countries.