Abraxis BioScience Appoints Lisa Gopala as Chief Financial Officer.

LOS ANGELES -- Abraxis BioScience, Inc. (NASDAQ: ABBI), an integrated, global biopharmaceutical company, today announced that Lisa Gopalakrishnan ("Gopala") has been named executive vice president, finance and will serve as chief financial officer beginning August 10, 2006. Gopala has experience with Fortune 100 corporations, both domestic and international, and most recently served as executive vice president and chief financial officer of Intermix Media, Inc. the former holding company of Myspace.com. Prior to Intermix Media, Gopala was vice president of finance and corporate controller of Ticketmaster, an IAC subsidiary.

In her new role, Gopala will report to Patrick Soon-Shiong, M.D., chairman and chief executive officer of Abraxis BioScience, and will be responsible for all financial aspects of the company, including accounting, strategic planning and analysis, treasury and tax. Ms. Gopala will replace Ronald E. Pauli who served as interim chief financial officer. Mr. Pauli played an integral role during the merger to create Abraxis and has chosen to pursue other opportunities.

"We would like to thank Ron for his contribution to Abraxis and for his hard work and dedication during this transitional period," said Soon-Shiong. "We know he will bring the same level of commitment and professionalism to his new position and we wish him great success in his future endeavors.

"As we move forward, we are pleased to have someone of Lisa's caliber join the team. In dealing with the ever-changing competitive technology space over the last decade, Lisa has demonstrated the ability to quickly identify and implement solutions that address complex issues on a global scale," said Soon-Shiong. "Her extensive financial and general management background with large-scale companies across competitive high growth industries will provide Abraxis the experience necessary to expand globally and deliver results for employees and shareholders."

"Abraxis is uniquely positioned to maximize value by taking advantage of tremendous growth opportunities in the industry both domestic and on a global scale for its stakeholders," said Gopala. "I look forward to working with this leadership team and utilizing my background to help Abraxis achieve its maximum potential."

While at Intermix, Gopala was responsible for the corporation's finance functions and managed the process of global compliance with the Sarbanes-Oxley regulations. She also provided financial leadership during the acquisition of Intermix by Fox Interactive Media, Inc., a wholly-owned subsidiary of News Corporation.

At Ticketmaster, Gopala was responsible for key financial functions, both domestic and international, including day-to-day financial activities, SEC reporting, compliance requirements, and the implementation of SAP. She was also involved in managing growth initiatives internationally in the United Kingdom, Ireland, Netherlands, Sweden, Norway, Denmark, Finland and Australia.

Gopala has also served at International Rectifier, the world's top maker of power electronics and semiconductors, LA Gear, and PricewaterhouseCoopers/Arthur Andersen. Gopala is a certified public accountant and holds a bachelor of science degree in business administration from Babson College.

About Abraxis BioScience, Inc.

Abraxis BioScience, Inc. is an integrated global biopharmaceutical company dedicated to meeting the needs of critically ill patients. The company develops, manufactures and markets one of the broadest portfolios of injectable products and leverages revolutionary technology such as its nab(TM) platform to discover and deliver breakthrough therapeutics that transform the treatment of cancer and other life-threatening diseases. The first FDA approved product to use this nab platform, ABRAXANE(R), was launched in 2005 for the treatment of metastatic breast cancer. Abraxis trades on the Nasdaq National Market under the symbol ABBI. For more information about the company and its products, please visit www.abraxisbio.com.

Forward-Looking Statement 

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 expected global expansion. 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, without limitation, the market adoption and demand of ABRAXANE, the costs associated with the ongoing launch of ABRAXANE, the impact of competitive products and pricing, the availability and pricing of ingredients used in the manufacture of pharmaceutical products, the ability to successfully manufacture products in a time-sensitive and cost effective manner, the acceptance and demand of new pharmaceutical products, the impact of patents and other proprietary rights held by competitors and other third parties. Additional relevant information concerning risks can be found in Abraxis BioScience's Form 10-K for the year ended December 31, 2005 and other documents it has filed with the Securities and Exchange Commission.