The present kinetic study suggests that the Fe(II)-adriamycin complex acts as substrate for ceruloplasmin, which oxidizes the complex to the ferric form (Km = 21.7 microM). 2. Apotransferrin readily removes iron from Fe(III)-adriamycin. 3. However, adriamycin, at low concentration, is able to take up some iron from a 20% iron-saturated transferrin solution; a reaction which may take place in vivo.