<SUBMISSION>
<ACCESSION-NUMBER>0000950123-10-062530
<TYPE>425
<PUBLIC-DOCUMENT-COUNT>2
<FILING-DATE>20100630
<DATE-OF-FILING-DATE-CHANGE>20100630
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>Abraxis BioScience, Inc.
<CIK>0001409012
<ASSIGNED-SIC>2834
<IRS-NUMBER>300431735
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>425
<ACT>34
<FILE-NUMBER>001-33657
<FILM-NUMBER>10925431
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>11755 WILSHIRE BLVD., 20TH FLOOR
<CITY>LOS ANGELES
<STATE>CA
<ZIP>90025
<PHONE>310-883-1300
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>11755 WILSHIRE BLVD., 20TH FLOOR
<CITY>LOS ANGELES
<STATE>CA
<ZIP>90025
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>Abraxis Biosciences, Inc.
<DATE-CHANGED>20071120
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>New Abraxis, Inc.
<DATE-CHANGED>20070806
</FORMER-COMPANY>
</SUBJECT-COMPANY>
<FILED-BY>
<COMPANY-DATA>
<CONFORMED-NAME>CELGENE CORP /DE/
<CIK>0000816284
<ASSIGNED-SIC>2834
<IRS-NUMBER>222711928
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>425
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>86 MORRIS AVENUE
<CITY>SUMMIT
<STATE>NJ
<ZIP>07901
<PHONE>(908)673-9000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>86 MORRIS AVENUE
<CITY>SUMMIT
<STATE>NJ
<ZIP>07901
</MAIL-ADDRESS>
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<DOCUMENT>
<TYPE>425
<SEQUENCE>1
<FILENAME>c03007e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">
<DIV style="font-size: 10pt">
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 2pt solid">&nbsp;</DIV>
<DIV
style="font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>

<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B> <!-- xbrl,dc -->

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): June 30, 2010</B> <!-- /xbrl,dc -->

<P style="font-size: 24pt" align="center"><B>CELGENE CORPORATION<BR>
</B><FONT
style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>Delaware</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>0-16132</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>22-2711928</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

</TABLE>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="49%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="49%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>86 Morris Avenue, Summit, New
Jersey<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>07901</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(908) 673-9000</B>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="30%" border="0">

 <TR>
  <TD width="100%">&nbsp;</TD>
 </TR>
 <TR>
  <TD style="border-bottom: #000000 1px solid" nowrap><B>&nbsp;</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">&#254;</FONT>
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<DIV style="margin-top: 10pt; font-size: 1pt; width: 100%; border-bottom: black 1pt solid">&nbsp;</DIV>
<DIV style="font-size: 1pt; width: 100%; border-bottom: black 2pt solid">&nbsp;</DIV>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">1
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">



<P style="font-size: 10pt" align="left"><B>Item 7.01. Regulation FD Disclosure.</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">The information included in Item 8.01 is incorporated herein by reference



<P style="font-size: 10pt" align="left"><B>Item&nbsp;8.01. Other Events</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">On June&nbsp;30, 2010,
Celgene Corporation (&#8220;Celgene&#8221;) and Abraxis BioScience, Inc.
(&#8220;Abraxis&#8221;) issued a joint press release announcing the execution
of an Agreement and Plan of Merger, dated as of June&nbsp;30, 2010, by and
among Celgene, Abraxis and Artistry Acquisition Corp., a direct wholly-owned
subsidiary of Celgene. A copy of the joint press release is filed herewith as
Exhibit&nbsp;99.1 and is incorporated herein by reference.

<P style="font-size: 10pt; text-indent: 4%" align="left">The information
required by Item&nbsp;1.01 will be filed in a separate Current Report on Form
8-K.

<P style="font-size: 10pt" align="left"><B>Additional Information</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">This communication is
being made in respect of the proposed merger transaction involving Celgene and
Abraxis. In connection with the proposed transaction, Celgene will file with
the SEC a registration statement on Form S-4 and Abraxis will mail a proxy
statement/prospectus to its stockholders, and each will be filing other
documents regarding the proposed transaction with the SEC as well. Before
making any voting or investment decision, investors are urged to read the
registration statement on Form S-4 and the proxy statement/prospectus regarding
the proposed transaction and any other relevant documents carefully in their
entirety when they become available because they will contain important
information about the proposed transaction. The final proxy
statement/prospectus will be mailed to Abraxis stockholders. You may obtain
copies of all documents filed with the SEC concerning the proposed transaction,
free of charge, at the SEC&#8217;s website at www.sec.gov. In addition,
investors and security holders may obtain free copies of the documents filed
with the SEC by Celgene by going to Celgene&#8217;s Investor Relations website
page at www.celgene.com.

<P style="font-size: 10pt; text-indent: 4%" align="left">Celgene, Abraxis and
their respective directors and executive officers and other persons may be
deemed to be participants in the solicitation of proxies in respect of the
proposed transaction. Information regarding Celgene directors and officers is
available in Celgene&#8217;s proxy statement for its 2010 annual meeting of
shareholders and Celgene&#8217;s 2009 Annual Report on Form 10-K, which were
filed with the SEC on April&nbsp;30, 2010 and February&nbsp;18, 2010,
respectively. Information regarding Abraxis directors and executive officers is
available in Abraxis&#8217; proxy statement for its 2009 annual meeting of
stockholders and Abraxis&#8217; 2009 Annual Report on Form 10-K, which were
filed with the SEC on October&nbsp;30, 2009 and March&nbsp;12, 2010,
respectively. Other information regarding persons who may be deemed to be
participants in the solicitation of proxies in respect of the proposed
transaction will be contained in the proxy statements/prospectus filed to be
filed by Abraxis with the SEC when it becomes available.

<P style="font-size: 10pt" align="left"><B>Item&nbsp;9.01. Financial Statements
and Exhibits.</B>

<P style="font-size: 10pt" align="left">The following exhibits are attached to
this Current Report on Form 8-K:

<P style="font-size: 10pt; text-indent: 4%" align="left">(d)&nbsp;Exhibits.
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="8%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="87%">&nbsp;</TD>
 </TR>
 <TR style="font-size: 10pt" valign="bottom">
  <TD style="border-bottom: #000000 1px solid" nowrap align="left"><B>Exhibit
No.</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid" nowrap align="left"><B>Description</B></TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">99.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Joint Press Release issued by Celgene
Corporation and Abraxis BioScience, Inc. dated June&nbsp;30, 2010.</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">2
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>SIGNATURE</B>

<P style="font-size: 10pt; text-indent: 4%" align="left">Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.

<P style="font-size: 10pt" align="left">Date: June&nbsp;30, 2010.

<P style="font-size: 10pt; margin-left: 48%" align="left">CELGENE CORPORATION

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%" border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="48%">&nbsp;</TD>
  <TD width="4%">&nbsp;</TD>
  <TD width="48%">&nbsp;</TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">By: </TD>
  <TD valign="top" align="left" style="border-bottom: #000000 1px solid">/s/ David W.
Gryska</TD>
 </TR>

 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Name: David W. Gryska <BR>
Title: Senior Vice President and Chief Financial Officer</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">3
</DIV>

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<DIV
style="margin-left: 0.25in; width: 7.2in; font-family: 'Times New Roman',Times,serif">

<P style="font-size: 10pt" align="center"><B>EXHIBIT INDEX</B>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" cellpadding="0" width="100%"
border="0">
<!-- Begin Table Head -->

 <TR valign="bottom">
  <TD width="8%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="87%">&nbsp;</TD>
 </TR>
 <TR style="font-size: 10pt" valign="bottom">
  <TD style="border-bottom: #000000 1px solid" nowrap align="left"><B>Exhibit
No.</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid" nowrap
align="left"><B>Description</B></TD>
 </TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
 <TR valign="bottom">
  <TD valign="top">
<DIV style="margin-left: 0px; text-indent: 0px">99.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Joint Press Release issued by Celgene
Corporation and Abraxis BioScience, Inc. dated June&nbsp;30, 2010.</TD>
 </TR>
<!-- End Table Body -->

</TABLE>
</DIV>

<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">4
</DIV>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c03007exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">


<P align="right" style="font-size: 10pt">Exhibit&nbsp;99.1


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="17%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="41%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Contact:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">David W. Gryska<br>
Senior Vice President and<br>
Chief Financial Officer<br>
Celgene Corporation<br>
(908)&nbsp;673-9059
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tim Smith<br>
Director<br>
Investor Relations<br>
Celgene Corporation<br>
(908)&nbsp;673-9951</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>CELGENE TO ACQUIRE ABRAXIS BIOSCIENCE INC.</B>



<P align="center" style="font-size: 10pt"><I>ABRAXANE</I><I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</sup> Approved for Second-Line Use in Metastatic Breast Cancer, Establishes<br>
Celgene in Solid Tumors Complementing Its Leadership Position in Blood Cancers</I>



<P align="center" style="font-size: 10pt"><I>Recent Clinical Data Presented at ASCO and AACR for ABRAXANE in First-Line Non-small<br> Cell Lung Cancer and First-Line Pancreatic Cancer Highlights Significant Growth<BR>Opportunities</I>



<P align="center" style="font-size: 10pt"><I>Celgene Reaffirms 2010 Non-GAAP Financial Outlook; Expects Acquisition to be Modestly<BR>Dilutive to Non-GAAP Earnings in 2011 and Accretive in 2012 and Beyond; Acquisition<BR>Expects to Add Approximately $1 Billion in Revenue<BR>
in 2015</I>



<P align="justify" style="font-size: 10pt"><B>SUMMIT, NJ and LOS ANGELES, CA &#150; (June&nbsp;30, 2010) &#150; Celgene Corporation (NASDAQ: CELG) and Abraxis BioScience Inc</B><B><I>.</I></B>
<B>(Nasdaq: ABII) </B>today jointly announced the signing of a definitive merger agreement in which Celgene has agreed to
acquire Abraxis BioScience. Under the terms of the merger agreement, each share of Abraxis BioScience common stock will
be converted into the right to receive an upfront payment of $58.00 in cash and 0.2617 shares of Celgene common stock.
The upfront payment values Abraxis BioScience at approximately $2.9&nbsp;billion, net of cash. Each share will also receive
one tradeable Contingent Value Right (CVR), which entitles its holder to receive payments for future regulatory
milestones and commercial royalties. The transaction is expected to be modestly dilutive to non-GAAP earnings in 2011
and accretive in 2012 and beyond.


<P align="justify" style="font-size: 10pt">The acquisition of Abraxis BioScience accelerates Celgene&#146;s strategy to become a global leader in oncology. The
transaction adds ABRAXANE for Injectable Suspension (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) to the
Company&#146;s existing portfolio of leading cancer products. ABRAXANE was approved in January&nbsp;2005 by the U.S. Food and
Drug Administration (FDA)&nbsp;for the treatment of breast cancer after failure of combination chemotherapy for metastatic
disease or relapse within six months of adjuvant chemotherapy. Prior therapy should have included an anthracycline
unless clinically contraindicated. ABRAXANE was approved by the European Medicines Agency
in January&nbsp;2008 for a similar indication. Additionally, ABRAXANE<SUP style="font-size: 85%; vertical-align: text-top">&#174;</sup> has received orphan drug designation for
stage IIB-IV melanoma and pancreatic cancer.


<P align="justify" style="font-size: 10pt">&#147;The acquisition of Abraxis BioScience is an exceptional strategic fit that will accelerate our strategy of becoming a
global leader in oncology,&#148; said Bob Hugin, Chief Executive Officer of Celgene Corporation. &#147;We are excited by the
opportunity to leverage our clinical, regulatory and commercial capabilities to provide metastatic breast cancer patients with an
innovative treatment

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<P align="justify" style="font-size: 10pt">in ABRAXANE. We are also excited by the potential of ABRAXANE to treat additional solid tumor malignancies such as
non-small cell lung and pancreatic cancer. Finally, the potential of <I>nab</I><SUP style="font-size: 85%; vertical-align: text-top"><I>&#174;</I></sup>-based therapeutics developed by
Abraxis coupled with Celgene&#146;s innovative science offers the potential to deliver long-term value to patients, doctors
and all of our stakeholders.&#148;


<P align="justify" style="font-size: 10pt">&#147;Our <I>nab </I>technology platform is changing the treatment paradigm for
difficult-to-treat cancers,&#148; said Patrick Soon-Shiong, M.D.,
Executive Chairman of Abraxis BioScience. &#147;In Celgene we have found the ideal partner to further expand the reach of
ABRAXANE and our other treatments, in order to improve the lives of patients worldwide.&#148;

<P align="justify" style="font-size: 10pt"><FONT style="border-bottom: 1px solid #000000"><B>About <I>nab</I><SUP style="font-size: 85%; vertical-align: text-top"><I>&#174;</I></sup>-Driven Chemotherapy</B></FONT>
<BR><BR>
Abraxis BioScience has developed a proprietary nanoparticle albumin bound (<I>nab</I>) technology which
leverages albumin nanoparticles for the active and targeted delivery of chemotherapeutics to the
tumor. This <I>nab</I>-driven chemotherapy provides a new paradigm for penetrating the blood-stroma
barrier to reach the tumor cell. The proposed mechanism of delivery of this <I>nab</I>-driven
chemotherapy is thought to be by targeting a previously unrecognized tumor-activated,
albumin-specific biologic pathway with a nanoshell of the human blood protein albumin. This
nano-shuttle system is believed to activate an albumin-specific (Gp60) receptor-mediated
transcytosis path through the cell wall of proliferating tumor cells, using caveolin-1
activated caveolar transport. Once in the stromal micro-environment, the albumin-bound
drug may be preferentially localized by a second albumin-specific binding protein, SPARC,
a protein secreted into the stroma by tumor cells. The resulting collapse of stroma surrounding
the tumor cell may thus enhance the delivery of the <I>nab</I>-chemotherapeutic to the intracellular
core of the tumor cell itself.

<P align="justify" style="font-size: 10pt"><B>Recent ABRAXANE Clinical Data: First-line Non-small Cell Lung Cancer</B>
<BR>
At the 46th Annual Meeting of the American Society of Clinical Oncology (ASCO)&nbsp;held earlier this month in Chicago, 34
scientific abstracts evaluating the use of ABRAXANE were presented. Data presented from a randomized phase III
trial evaluating ABRAXANE plus carboplatin showed a statistically significant (p=0.005) 31&nbsp;percent improvement in overall
response rate (ORR)&nbsp;when compared with paclitaxel plus carboplatin in the first-line
treatment of patients with non-small cell lung cancer (NSCLC). These data achieved the primary end point
agreed to with the FDA in a Special Protocol Assessment. In addition, a retrospective analysis of the highly difficult-to-treat subset
of squamous cell carcinoma, showed a 67&nbsp;percent improvement in ORR (p&#060;0.001) in those who received the ABRAXANE combination
versus those who received the paclitaxel combination.


<P align="justify" style="font-size: 10pt"><B>Recent ABRAXANE Clinical Data: Advanced Pancreatic Cancer</B>
<BR>
Data was also presented at the recent ASCO meeting from a phase II clinical study evaluating ABRAXANE in advanced pancreatic cancer
patients who have progressed on gemcitabine-based therapy. Treatment resulted in 58&nbsp;percent of patients achieving
six-month overall survival (OS), with a median survival of 7.3&nbsp;months and a median progression-free survival (PFS)&nbsp;of
1.6&nbsp;months. Five patients remain alive at a median follow-up of 12.7&nbsp;months, including one patient with stable disease
(SD)&nbsp;on cycle 15 of therapy. These results follow data presented at the 101st Annual Meeting of the American
Association for Cancer Research (AACR)&nbsp;in April&nbsp;2010 from a phase 1/2 study of ABRAXANE in combination with
gemcitabine, which demonstrated increased survival in first-line treatment of patients with advanced pancreatic cancer.
Median OS for 44 patients treated at the recommended dose of 125 mg/m2 <I>nab</I>-paclitaxel (ABRAXANE) plus gemcitabine (1000 mg/m2) was
12.2&nbsp;months, a doubling of survival compared to historical control of gemcitabine alone. Enrollment is ongoing for a
phase III trial program evaluating nab-paclitaxel plus gemcitabine versus gemcitabine alone as a first-line therapy for
advanced metastatic pancreatic cancer.


<P align="justify" style="font-size: 10pt"><B>Terms of the Agreement</B>
<BR>
The transaction has been approved by the Board of Directors of both companies and is subject to customary closing
conditions, including the approval of the acquisition by stockholders of Abraxis Bioscience and the expiration or
termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Under the terms of the merger agreement, each share of Abraxis BioScience common stock will be converted into
the right to receive an upfront payment of $58.00 in cash and 0.2617 shares of Celgene common stock. The upfront
payment values Abraxis BioScience at approximately $2.9 billion, net of cash. Each share will also receive one
tradeable CVR, which will entitle its holder to receive a pro rata share of the following payments:


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">2
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.20in">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">$250&nbsp;million cash payment upon certain U.S. approval of
ABRAXANE<SUP style="font-size: 85%; vertical-align: text-top">&#174;</sup> by FDA
for NSCLC with progression-free survival claim in U.S. label</DIV></TD>
</TR>

</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">$300 million in cash upon the approval of ABRAXANE by FDA
for pancreatic cancer with overall survival claim in U.S. label.</DIV></TD>
</TR>

</TABLE>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">$100 million cash payment upon FDA approval of
ABRAXANE for pancreatic cancer by April 1, 2013.</DIV></TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><DIV style="text-align: justify">Potential cash royalty payments upon achievement of certain ABRAXANE and nab-pipeline products net revenue
thresholds.</DIV></TD>
</TR>

</TABLE>


<P align="justify" style="font-size: 10pt">The acquisition of Abraxis BioScience is expected to close in the fourth quarter of 2010.


<P align="justify" style="font-size: 10pt">Morgan Stanley &#038; Co. Incorporated is acting as financial advisor to Celgene on the transaction. Lazard Freres &#038; Co.,
Goldman Sachs &#038; Co., and BofA Merrill Lynch are acting as co-financial advisors to Abraxis BioScience. Legal
counsel for Celgene is Jones Day and Proskauer Rose LLP, and Abraxis BioScience&#146;s legal counsel is Fried, Frank,
Harris, Shriver &#038; Jacobson LLP.


<P align="justify" style="font-size: 10pt"><B>About ABRAXANE</B><SUP style="font-size: 85%; vertical-align: text-top"><B>&#174;</B></sup>
<BR>
ABRAXANE is a solvent-free chemotherapy treatment option for metastatic breast cancer which was developed using Abraxis
BioScience&#146;s proprietary <I>nab</I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</sup> technology platform. This protein-bound chemotherapy agent combines paclitaxel
with albumin, a naturally-occurring human protein. By wrapping the albumin around the active drug, ABRAXANE can be
administered to patients at higher doses, delivering higher concentrations of paclitaxel to the tumor site than
solvent-based paclitaxel. ABRAXANE is currently in various stages of investigation for the treatment of the following
cancers: expanded applications for metastatic breast, non-small cell lung, malignant melanoma, pancreatic and gastric.


<P align="justify" style="font-size: 10pt">The U.S. Food and Drug Administration approved ABRAXANE for Injectable Suspension (paclitaxel protein-bound particles
for injectable suspension) (albumin-bound) in January&nbsp;2005 for the treatment of breast cancer after failure of
combination chemotherapy for metastatic disease or relapse within six months of adjuvant chemotherapy. Prior therapy
should have included an anthracycline unless clinically contraindicated. For the full prescribing information for
ABRAXANE please visit http://www.abraxane.com.


<P align="justify" style="font-size: 10pt"><B>About Abraxis BioScience, Inc.</B>
<BR>
Abraxis BioScience is a fully integrated global biotechnology company dedicated to the discovery, development and
delivery of next-generation therapeutics and core technologies that offer patients safer and more effective treatments
for cancer and other critical illnesses. The company&#146;s portfolio includes chemotherapeutic compound (ABRAXANE), which
is based on the company&#146;s proprietary tumor targeting technology known as the <I>nab</I><SUP style="font-size: 85%; vertical-align: text-top">&#174;</sup> platform. The first FDA
approved product to use this <I>nab </I>platform, ABRAXANE, was launched in 2005 for the treatment of metastatic breast cancer
and is now approved in 39 countries. The company continues to expand the <I>nab </I>platform through a robust clinical program
and deep product pipeline. Abraxis trades on the NASDAQ Global Market under the symbol ABII. For more information about
the company and its products, please visit http://www.abraxisbio.com.

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<P align="justify" style="font-size: 10pt"><B>Conference Call and Webcast Information</B>
<BR>
Celgene will host a conference call to discuss the strategic acquisition of Abraxis BioScience on June&nbsp;30, 2010, at
9 a.m. ET. The conference call and accompanying slides will be available by webcast at www.celgene.com. An audio
replay of the call will be available from noon ET June&nbsp;30, 2010, until midnight ET July&nbsp;7, 2010. To access the replay,
in the U.S. dial 800-642-1687; outside the U.S. dial 706-645-9291; and enter reservation number 84971562


<P align="justify" style="font-size: 10pt"><B>About Celgene</B>
<BR>
Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged
primarily in the discovery, development and commercialization of novel therapies for the treatment of cancer and
inflammatory diseases through gene and protein regulation. For more information, please visit the company&#146;s Web site at
www.celgene.com.


<P align="justify" style="font-size: 10pt"><B>Additional Information about the Transaction and Where to Find It</B>
<BR>
This press release shall not constitute an offer of any securities for sale. The acquisition will be submitted to
Abraxis Bioscience&#146;s stockholders for their consideration. In connection with the acquisition, Celgene and Abraxis
Bioscience intend to file relevant materials with the Securities and Exchange Commission (SEC), including a
registration statement, a proxy statement/prospectus and other relevant documents concerning the merger. Investors and
stockholders of Celgene and Abraxis Bioscience are urged to read the registration statement, the proxy
statement/prospectus and other relevant documents filed with the SEC when they become available, as well as any
amendments or supplements to the documents because they will contain important information about Celgene, Abraxis
Bioscience and the merger.


<P align="justify" style="font-size: 10pt">Stockholders of Celgene and Abraxis Bioscience can obtain more information about the proposed transaction by reviewing
the Form 8-K to be filed by Celgene and Abraxis Bioscience in connection with the announcement of the entry into the
merger agreement, and any other relevant documents filed with the SEC when they become available. The registration
statement, the proxy statement/prospectus and any other relevant materials (when they become available), and any other
documents filed by Celgene and Abraxis Bioscience with the SEC, may be obtained free of charge at the SEC&#146;s web site at
www.sec.gov. In addition, investors and stockholders may obtain free copies of the documents filed with the SEC by
directing a written request to: Celgene Corporation, 86 Morris Avenue, Summit, New Jersey, 07901, Attention: Investor
Relations, or Abraxis Bioscience Inc., 11755 Wilshire Blvd., Los Angeles, CA, 90025, Attention: Investor Relations.
Investors and stockholders are urged to read the registration statement, the proxy statement/prospectus and the other
relevant materials when they become available before making any voting or investment decision with respect to the
merger.


<P align="justify" style="font-size: 10pt"><B>Participants in Solicitations</B>
<BR>
Celgene, Abraxis Bioscience and their respective directors, executive officers and other members of their management
and employees may be deemed to be participants in the solicitation of proxies from stockholders of Abraxis Bioscience
in connection with the merger. Information regarding Celgene&#146;s directors and officers is available in Celgene&#146;s proxy
statement on Schedule&nbsp;14A for its 2010 annual meeting of stockholders, which was filed with the SEC on April&nbsp;30, 2010.
Information regarding Abraxis Bioscience&#146;s directors and executive officers is available in Abraxis Bioscience&#146;s proxy
statement on Schedule&nbsp;14A for its 2009 annual meeting of stockholders, which was filed with the SEC on October&nbsp;30, 2009. Additional information regarding the interests of such
potential participants will be included in the proxy statement and the other relevant documents filed with the SEC when
they become available.


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<P align="justify" style="font-size: 10pt"><B>Forward-Looking Statements</B>
<BR>
This release contains certain forward-looking statements which involve known and unknown risks, delays, uncertainties
and other factors not under Celgene&#146;s control. The Company&#146;s actual results, performance, or achievements could be
materially different from those projected by these forward-looking statements. The factors that could cause actual
results, performance, or achievements to differ from the forward-looking statements include the risk that the
acquisition of Abraxis Bioscience may not be consummated for reasons including that the conditions precedent to the
completion of the acquisition may not be satisfied; the possibility that the expected benefits from the proposed merger
will not be realized, or will not be realized within the anticipated time period; the risk that Celgene&#146;s and Abraxis
Bioscience&#146;s businesses will not be integrated successfully; the possibility of disruption from the merger making it
more difficult to maintain business and operational relationships; any actions taken by either of the companies,
including but not limited to, restructuring or strategic initiatives (including capital investments or asset
acquisitions or dispositions); and other risks that are discussed in Celgene&#146;s filings with the SEC, such as Celgene&#146;s
Form 10-K, 10-Q and 8-K reports and in Abraxis Bioscience&#146;s filings with the SEC, such as its Form 10-K, 10-Q and 8-K
reports. Given these risks and uncertainties, you are cautioned not to place undue reliance on the forward-looking
statements.


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