Abraxis hires advisers to weigh sale – sources

* Company hires Goldman, Lazard to weigh sale

* Shares trade down 2.4 percent

PHILADELPHIA, April 13 (BestGrowthStock) – Abraxis BioScience Inc
(ABII.O: ) has hired financial advisers to help it weigh
strategic options, including the possible sale of the company,
sources familiar with the situation said on Tuesday.

Goldman Sachs and Lazard were hired by the company to
consider a sale, sources said. Goldman declined to comment.
Lazard could not be immediately reached for comment.

Los Angeles-based Abraxis, which has a market
capitalization of $2.1 billion, also declined to comment.

Shares of Abraxis had risen Monday after dealReporter first
reported the company was up for sale. Early Tuesday afternoon,
the stock fell $1.25 or 2.4 percent, to $51.25 on Nasdaq.

Abraxis has been trading higher since mid-March when the
company said late-stage study testing of its cancer drug
Abraxane for non-small cell lung cancer had met the main

The trial, which compared the drug with injections of
Bristol-Myers Squibb Co’s (BMY.N: ) Taxol, showed Abraxane
significantly improved the overall response rate in first-line
treatment of advanced non-small cell lung cancer patients.
Abraxane is a chemotherapy treatment that is already approved
for use in metastatic breast cancer.

Taxol is also generically marketed as paclitaxel by other


(Reporting by Jessica Hall; Editing by Richard Chang)
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Abraxis hires advisers to weigh sale – sources