APP Pharmaceuticals Announces Successful Separation of its Business.

Provides 2008 Adjusted Cash EPS Guidance of $1.05 to $1.13 on 160 Million Fully Diluted Shares

SCHAUMBURG, Ill. -- APP Pharmaceuticals, Inc. (Nasdaq:APPX) today announced that it has completed the tax-free separation of its proprietary business. APP Pharmaceuticals is a leading manufacturer of multi-source and branded injectable pharmaceutical products for acute medical care both in patient and ambulatory settings. Through its broad portfolio of products covering a wide array of therapeutic categories, APP's products provide ongoing affordable healthcare helping millions of people in the United States and Canada fight critical illnesses. As of today, APP trades on the Nasdaq Global Market under the symbol "APPX."

Based on preliminary data, APP expects diluted adjusted cash earnings per share for 2008 to be in the range of $1.05 to $1.13 (adjusted to exclude net interest, depreciation, amortization, stock compensation expense and Puerto Rico manufacturing transition costs). The adjusted cash EPS is based on approximately 160.5 million fully diluted shares, which excludes 6.7 million treasury shares that were retired in connection with the separation. Full guidance for 2008 will be announced when the company issues its fourth quarter and full year earnings next year.

"We are very pleased to have closed this transaction. I have confidence in this proven management team and their ability to leverage the company's current strong balance sheet and solid cash flow to further APP's leadership in the marketplace," said Patrick Soon-Shiong, M.D., chairman of the board and chief executive officer of APP.

APP has one of the most diversified injectable product portfolios within the pharmaceutical sector. Its products have helped millions of people in the United States and Canada fight critical illnesses by providing important pharmaceutical products, including those that are difficult to manufacture and are urgently needed.

"We look to what the future holds and the multitude of opportunities to grow our business for the benefit of our customers, shareholders, employees, and most importantly, patients," said Thomas H. Silberg, president of APP. "We have proven over many years that APP can excel in this competitive environment and we now focus our attention on investing in the development of our business and enriching our product offerings."

About APP Pharmaceuticals

Headquartered in Schaumburg, Illinois, APP's 1,400 employees are united in their commitment to operations excellence in the ultimate effort to provide products that elevate patient care. APP has offices in Canada and manufacturing operations in Illinois, New York and Puerto Rico and is traded on the Nasdaq Global Market under the symbol APPX. For more information about APP and the products it provides, please visit www.APPpharma.com.

FORWARD-LOOKING STATEMENTS 

The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release include statements regarding our expectations, beliefs, hopes, goals, intentions, initiatives or strategies, including statements regarding the separation of the proprietary product business and our estimated 2008 adjusted cash earnings per share (a non-GAPP financial measure that is not a substitute for measures of financial performance calculated in accordance with GAAP). 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, but are not limited to, the inability to recognize the benefits of the separation; the ability of the company to service approximately $1.0 billion of debt ; the continued market acceptance and demand of new and existing products; the difficulties or delays in developing, testing, obtaining regulatory approval of, and producing and marketing of their products; the impact of competitive products and pricing; the availability and pricing of ingredients used in the manufacture of pharmaceutical products; and the ability to successfully manufacture products in a time-sensitive and cost effective manner. Additional relevant information concerning risks can be found in APP Pharmaceuticals Form 10-K for the year ended December 31, 2006 filed under the company name Abraxis BioScience, Inc. and other documents it has filed with the Securities and Exchange Commission.

The information contained in this press release is as of the date of this release. APP assumes no obligations to update any forward-looking statements contained in this press release as the result of new information or future events or developments.