April 26, 2006 – Abraxis BioScience Inc. (NASDAQ:ABBI) announced that it has entered into a definitive purchase agreement with Pfizer Inc. under which Abraxis will purchase Pfizer’s Cruce Davila manufacturing facility in Barceloneta, Puerto Rico.

The 56-acre site consists of a 172,000 square foot validated manufacturing plant with capabilities of producing EU and US compliant injectable pharmaceuticals, as well as protein based biologics and metered dosed inhalers. In addition, the acquisition includes a state-of-the-art, computer-controlled 90,000 square foot active pharmaceutical ingredients manufacturing plant, and two support facilities with quality assurance and laboratories, totaling 262,000 square feet.

The facility, which is expected to employ approximately 400 to 500 people when fully-operational, will provide a third manufacturing site using the company’s proprietary nanoparticle albumin bound technology to produce chemotherapeutics such as ABRAXANE for injectable suspension, the company’s first commercial product based on this technology. Financial details were not disclosed.

Under the agreement, Abraxis will lease the chemical raw material plant back to Pfizer to continue the manufacturing of Pfizer’s celecoxib, the active ingredient of Celebrex.