More on Abraxane

NanoPundit’s one and only Instapundit link was related to Abraxane, the instalanche accounts for about half of my traffic to date. Business Week provides an update on Patrick Soon-Shiong’s quest to bring Abraxane to market.

Business Week Online provides the backstory of American Pharmaceutical Partners (APPX ) ten year struggle to bring Abraxane to market. Abraxane is essentially Taxol which is reduced to nanosize and bonded to albumin (a protein found in egg whites). The process avoids the use of solvents which cause adverse reactions in cancer patients and limits dosage.

The story sounds like it could be a made for TV movie with twists and turns including:
strike suits from investors (no word if Bill Lerach was involved)
attacks by short-sellers
fraud accusations

APP stock almost doubled when the FDA approved Abraxane and analysts expect revenues to increase 50%, to $609 million, this year and profits to double, to $120 million.

Helping cancer victims and making big bucks, isn’t that what high technology is all about.