Abraxis BioScience Inc. (ABII) confirmed that it intends to spin-off the Abraxis Health division this year.Concurrently, Abraxis BioScience announced that Bruce Wendel has been appointed Vice Chairman of the board of directors and Chief Executive Officer. Wendel succeeds Lonnie Moulder, who is leaving the company to pursue other opportunities.
Bruce Wendel has served as a member of the board of directors of Abraxis BioScience since December 2009 and as Executive Vice President of Corporate Operations and Development since the separation of APP Pharmaceuticals and Abraxis BioScience in November 2007. Wendel previously served as Executive Vice President of Corporate Development at Abraxis BioScience from March 2006 to the date of the separation of APP Pharmaceuticals and Abraxis BioScience.
Soon-Shiong will continue as Executive Chairman of Abraxis BioScience. Following the spin-off, it is expected that Soon-Shiong will continue to serve as Executive Chairman of Abraxis BioScience and as Chief Executive Officer and Chairman of Abraxis Health. Wendel is anticipated to continue to serve as Chief Executive Officer of Abraxis BioScience following the spin-off.
Abraxis BioScience also announced two additional senior members of the Abraxis Health leadership team—Mitchell Fogelman and Sanjay Gupta.
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