In April 2006 Abraxis BioScience, which was formed from the merger of American Pharmaceutical Partners and its parent company American BioScience earlier in the month, entered into two agreements with global giant AstraZeneca. This article examines the terms of the two deals, and how the agreements endeavour to consolidate the position of the post-merger business and secure a grounding for future strategic growth. The creation of Abraxis itself, and the development of the company's first launched anticancer product - Abraxane#174; (albumin-bound paclitaxel), are also discussed. In addition, AstraZeneca's deal making activity is compared with that of other global pharmas, and reviewed in light of its recent acquisition Cambridge Antibody Technology.