Abraxis BioScience Appoints David O'Toole as Chief Financial Officer.LOS ANGELES -- Abraxis BioScience, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABII), an integrated, global biotechnology company, today announced that David O'Toole has been appointed Executive Vice President and Chief Financial Officer, succeeding Lisa Gopala. Mr. O'Toole, 49, comes to Abraxis with 24 years of experience providing financial, consulting and international tax services to global companies, with particular expertise in the life sciences industry. Mr. O'Toole was with Deloitte & Touche LLP LLP - Lower Layer Protocol for the past 16 years, last serving as Partner - Strategic Client Group, where he was responsible for providing solutions to issues facing the life sciences industry for biotechnology clients such as Amgen, including enterprise cost reduction, commercialization and distribution of drugs, human resources, Sarbanes Oxley compliance and tax compliance and planning. He also was Deloitte's Life Science leader in the Pacific Southwest for the last two years, helping to build their industry eminence in the marketplace. Mr. O'Toole's international experience includes a two year assignment in Paris, France, during which he was a consultant to large and medium-sized multinational companies with an emphasis on cross border operational and tax planning Tax planning Devising strategies throughout the year in order to minimize tax liability, for example, by choosing a tax filing status that is most beneficial to the taxpayer. , and a two year assignment in Tokyo, Japan. From 1984 to 1989 he was with Arthur Andersen & Co., last serving as International Tax Manager. Mr. O'Toole earned his bachelor of science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in accounting from the University of Arizona (body, education) University of Arizona - The University was founded in 1885 as a Land Grant institution with a three-fold mission of teaching, research and public service. . He is a member of the American Institute of Certified Public Accountants With over 330,525 CPA members (in August 2006), the American Institute of Certified Public Accountants (AICPA) is the largest professional organization of Certified Public Accountants (CPAs) in the United States of America. , the California Society of Certified Public Accountants Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. , the California Healthcare Institute and the Southern California Biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. Counsel. "David is an accomplished executive who brings a wealth of experience to Abraxis having served as a strategic financial advisor to Amgen and other preeminent biotechnology companies as a Partner at Deloitte & Touche," said Patrick Soon-Shiong, M.D., Chairman and Chief Executive Officer of Abraxis BioScience. "Additionally, his extensive experience in the U.S. and abroad will be invaluable as our company becomes an increasingly international enterprise." "I have followed the growth of Abraxis over the last three years as a consultant to the company. I am thrilled to now join the executive team of Abraxis and lead the finance department as we look to accelerate growth both domestically and internationally," said Mr. O'Toole. Ms. Gopala resigned to join a philanthropic venture fund as its Executive Vice Chairman and Chief Executive Officer and also as the Executive Director of a related non-profit organization. "I would like to thank Lisa for her hard work and dedication to Abraxis, including her efforts in the successful separation of APP Pharmaceuticals and Abraxis BioScience," said Dr. Soon-Shiong. "I wish her well as she pursues her dream of supporting philanthropic ventures where I am confident her contributions will be invaluable." "As the CFO See Chief Financial Officer. it has been my pleasure working with Dr. Soon-Shiong especially to complete the challenging mandates of raising a billion dollars in debt and the separation of Abraxis Bioscience and APP Pharmaceuticals," said Ms. Gopala. "It has been an exciting time at Abraxis, one that I have thoroughly enjoyed." About Abraxis BioScience Abraxis BioScience is a fully integrated global biotechnology company dedicated to the discovery, development and delivery of next-generation therapeutics and core technologies that offer patients safer and more effective treatments for cancer and other critical illnesses. The company's portfolio includes the world's first and only protein-bound chemotherapeutic compound (ABRAXANE), which is based on the company's proprietary tumor targeting technology known as the nab(TM) platform. The first FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approved product to use this nab(TM) platform, ABRAXANE, was launched in 2005 for the treatment of metastatic Metastatic The term used to describe a secondary cancer, or one that has spread from one area of the body to another. Mentioned in: Coagulation Disorders metastatic pertaining to or of the nature of a metastasis. breast cancer. Abraxis trades on the NASDAQ Global Market under the symbol ABII. For more information about the company and its products, please visit www.abraxisbio.com. |
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