Pharmacyclics LLC is an American biopharmaceutical company based in Sunnyvale, California. It is primarily focused on the development of cancer therapies.[3][4] In 2017, Xynomic Pharmaceuticals acquired all global rights to Abexinostat, Pharmacyclics' primary commercial product.[5]
Acquisition by AbbVie
In March 2015, Chicago-based biopharmaceutical firm AbbVie announced it would acquire Pharmacyclics, as well as its lead anti-cancer compound ibrutinib (Imbruvica) for $21 billion. Imbruvica, the company’s flagship therapy, later became one of the most prescribed treatments for chronic lymphocytic leukemia (CLL). As part of the deal, AbbVie paid $261.25 per share in a mixture of both cash and AbbVie equity.[6] The merger closed in mid-2015.[7]
Duggan received over $3.55 billion from the sale of Pharmacyclics to AbbVie in "one of the biggest paydays ever from the buyout of a publicly held company."[8][9][10][11]
External links
References
- Lee Clippard. Professor's personal battle leads to development of new cancer drug University of Texas, 2006, retrieved May 30, 2015^
- Shangri-La Hotels and Resorts Annual report 2019-20 Shangri-La Hotels and Resorts, Shangri-La Hotels and Resorts Asia^
- Anthony Sawyer. Pharmacyclics (PCYC) Given Daily Media Impact Score of 0.42 Week Herald, 25 January 2018, retrieved 29 January 2018^
- Pharmacyclics Inc. (PCYC) Yahoo, retrieved May 30, 2015^
- Xynomic Acquires Global Rights to Anticancer Drug Abexinostat Genetic Engineering & Biotechnology News, February 24, 2017, retrieved February 25, 2017^
- Staff. AbbVie Acquires Oncology Drug Firm Pharmacyclics for $21B Genetic Engineering & Biotechnology News, 5 March 2015^
- Ex-99.1^
- Gary Strauss. The $3.55 billion Man USA Today, March 24, 2015^
- Antoine Gara. Robert Duggan Forbes^
- The Hiring Guru: Robert Duggan Billionaire The Huffington Post, 18 April 2014^
- Sean Williams. This Is One Incredible CEO fool.com, 27 February 2013^