Celgene Corp. and Abraxis BioScience have signed a definitive merger agreement under which Celgene will acquire Abraxis for approximately $2.9 billion. The acquisition is part of Celgene’s strategy to grow its oncology portfolio, adding breast cancer treatment Abraxane for Injectable Suspension. Abraxane was approved by the FDA in January 2005, and by the EMEA in January 2008. Additionally, Abraxane has received orphan drug designation for stage IIB-IV melanoma and pancreatic cancer. “The...