Abraxis (ABII)

[NYBob]

Abraxis BioScience (Nasdaq:ABII) was involved in a separation in 2007, when the previous corporate entity it was a part of split in two. Abraxis kept the oncology and research businesses, while the pharmaceutical products business became APP Pharmaceuticals.

Shareholders in the old entity kept their shares and received one new share of Abraxis BioScience for every four they owned of the old company. This deal appeared to work out for investors, as APP Pharmaceuticals was bought out by Fresenius, a large German healthcare company involved in dialysis services, for $4.6 billion in the fall of 2008. Abraxis BioScience is down only 11% over the last year as of the close on March 11, compared to the S&P 500's drop of 44%.

http://community.investopedia.com/news/IA/2009/Spinoffs-Revisited-DISH-ABII-SATS0313.aspx?partner=YahooSA