AbbVie to Acquire Pharmacyclics for $21 Billion

AbbVie and Pharmacyclics announced on March 4 that AbbVie will acquire Pharmacyclics and its flagship asset Imbruvica (ibrutinib), a treatment for hematologic malignancies, for approximately $21 billion. 

Under the terms of the transaction, AbbVie will pay $261.25 per share comprised of a mix of cash and AbbVie equity. The boards of directors of both companies have approved the transaction.

According to an AbbVie statement, the acquisition accelerates the company’s clinical and commercial presence in oncology.

Imbruvica is a Bruton's tyrosine kinase inhibitor approved for use in four indications to treat three different types of blood cancers including chronic lymphocytic leukemia, mantle cell lymphoma, and Waldenstrom's macroglobulinemia.

Source: AbbVie