Market Overview

Celgene and Abraxis Shareholders Vote in Favor of Merger

Celgene Corporation (NASDAQ: CELG) and Abraxis Bioscience, Inc. (NASDAQ: ABII) today announced that Abraxis' shareholders approved the merger agreement between the companies. The companies anticipate the closing of the transaction will occur on October 15, 2010.

The transaction will bring Abraxis' targeted cancer therapies, led by ABRAXANE, and its innovative nab® technology together with Celgene's portfolio of more than 30 clinical programs addressing high unmet medical needs in serious and debilitating diseases in hematology/oncology and inflammation.

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