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The research side of Abraxis BioScience will now be called APP.
Abraxis BioScience, which up to now included its oncology and research business as well as its hospital-product operation, is spinning off the latter into its own public company. The hospital-based business will now be called APP, while the oncology side will retain the name Abraxis BioScience. The Los Angeles firm explained that setting up two separate public companies will enable each to compete more effectively in its respective market. The spin-off is expected to be completed in the fourth quarter.