Abraxis (ABII)

[NYBob]

Form 8-K for ABRAXIS BIOSCIENCE, INC. -

13-Apr-2009

Entry into a Material Definitive Agreement


Item 1.01 Entry Into a Material Definitive Agreement.

On April 7, 2009, Abraxis BioScience, LLC ("Abraxis"), the wholly-owned operating subsidiary of Abraxis BioScience, Inc., entered into an agreement of purchase and sale and joint escrow instructions (the "Agreement") with 3300 Hyland I, LLC, a Delaware limited liability company ("Seller"), under which Abraxis agreed to purchase certain real property located at 3300 Hyland Avenue in Costa Mesa, California for an aggregate purchase price of $30.5 million, including $1 million which has been deposited into escrow. The acquisition will include a 15 acre site with an approximately 180,000 square foot three-story building, including approximately 70,000 square feet of laboratory space. Consummation of the transaction is subject to customary closing conditions, including delivery of satisfactory title.

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