Abraxis BioScience Files Marketing Application for ABRAXANE in Australia.

Second Global Regulatory Filing for ABRAXANE in the Past Four Months

LOS ANGELES -- Abraxis BioScience, Inc. (NASDAQ:ABBI), an integrated, global biopharmaceutical company, announced today that the Therapeutic Goods Administration (TGA) in Australia has accepted for review the company's marketing application for ABRAXANE([R]) for Injectable Suspension (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) for the treatment of metastatic breast cancer. The review period in Australia typically is 12 to 18 months from the date that the application is accepted. This is the second global regulatory filing for ABRAXANE to be accepted for review in the past four months. A marketing authorization application is also currently under review with the European Medicines Agency (EMEA) for use of ABRAXANE in the treatment of breast cancer.

According to the National Breast Cancer Centre of Australia, breast cancer is one of the most common cancers affecting women in Australia. In 2006 alone, an estimated 13,000 Australian women were diagnosed with breast cancer. Within five years, the number of women diagnosed with breast cancer each year is expected to reach almost 15,000.

"We are pleased our marketing application has been accepted for review in Australia and we look forward to working closely with the Australian regulatory authorities toward the approval of ABRAXANE for the treatment of metastatic breast cancer," said Patrick Soon-Shiong, M.D., chairman and chief executive officer of Abraxis BioScience. "The acceptance of this marketing application, the second global regulatory filing to be accepted in the past four months, further illustrates our focus on the global development and commercialization of ABRAXANE. Our dedication continues, as preparations are underway to initiate clinical trials with ABRAXANE in Australia and several other countries during the first half of this year."

ABRAXANE was approved in January 2005 by the U.S. Food and Drug Administration and in June 2006 by Therapeutic Products Directorate of Health Canada for the treatment of women with metastatic breast cancer. In addition to the filings in Australia and Europe, Abraxis plans to file for regulatory approval of ABRAXANE in China, Japan, Korea, and Taiwan, among other countries.

About the Australian Regulatory Submission

The Australian submission is based on clinical studies, which include a randomized, pivotal Phase III multi-center trial of 460 women with metastatic breast cancer comparing ABRAXANE at a dose of 260 mg/m2 given as a 30-minute infusion without pre-medication versus solvent-based paclitaxel injection (Taxol([R])) at 175 mg/m2 given as a 3-hour infusion with standard steroid and antihistamine pre-medication.

In the randomized trial, patients who received ABRAXANE demonstrated a superior investigator overall response rate of 33.2 percent, compared to 18.7 percent for patients (p=0.001) in the paclitaxel injection treatment arm. Time to Tumor Progression (TTP) was significantly prolonged in the ABRAXANE group than in the paclitaxel injection group for all patients [23.0 vs. 16.6 weeks (5.3 vs. 3.8 months), (p=0.002)]. Median Progression-Free Survival (PFS) was significantly longer for the ABRAXANE group than for the paclitaxel injection group for all patients [22.7 vs. 16.6 weeks (5.2 vs. 3.8 months), (p=0.003)].

No severe hypersensitivity reactions were reported in patients treated with ABRAXANE despite the absence of standard pre-medication, and peripheral neuropathies, while more frequent in the ABRAXANE treated patients, improved at a faster rate with ABRAXANE compared with Taxol. The most important adverse events included lower white and red blood cell counts, infections, tingling and numbness in the extremities, nausea, vomiting, diarrhea, muscle and joint aches, and mouth sores.

About Breast Cancer

Each year more than one million new cases of breast cancer are diagnosed worldwide, with a death rate of nearly 500,000 people per year.

About ABRAXANE([R])

The U.S. Food and Drug Administration approved ABRAXANE([R]) for Injectable Suspension (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) in January 2005 for the treatment of breast cancer after failure of combination chemotherapy for metastatic disease or relapse within six months of adjuvant chemotherapy. Prior therapy should have included an anthracycline unless clinically contraindicated. For the full prescribing information for ABRAXANE([R]), please visit www.abraxane.com.

ABRAXANE is the first protein-bound taxane. ABRAXANE utilizes the proprietary drug delivery system - nanoparticle albumin-bound (nab(TM)) tumor-targeting technology - to wrap the human protein albumin around paclitaxel, a naturally derived product with significant anti-tumor activity. The use of albumin enables more of the active drug to enter the tumor, and eliminates the need for solvents and the associated toxicities with solvent-based paclitaxel chemotherapy.

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 Stock 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 commercialization of ABRAXANE. 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, decisions by foreign regulatory authorities regarding whether and when to approve ABRAXANE for various indications as well their decisions regarding labeling and other matters that could affect the availability or commercial potential of ABRAXANE, unexpected safety, efficacy or manufacturing issues with respect to ABRAXANE, the need for additional data or clinical studies for ABRAXANE, regulatory developments (domestic or foreign) involving our manufacturing facilities, 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 Annual Report on Form 10-K for the year ended December 31, 2005 and in other documents it has filed with the Securities and Exchange Commission.

The information contained in this press release is as of the date of the release. Abraxis 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.

Taxol([R]) is a registered trademark of Bristol-Myers Squibb Company.