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AbbVie has completed its $21 billion buyout of Pharmacyclics.
AbbVie, a global biopharmaceutical company, announced today that it has completed the acquisition of Pharmacyclics, Inc. enhancing AbbVie’s scientific and commercial presence in oncology, specifically:
– The acquisition broadens and deepens AbbVie’s already robust pipeline, establishing the company as an emerging leader in the hematological oncology space
– The acquisition adds Imbruvica®, one of the most promising new oncology therapies on the market, to AbbVie’s portfolio
Pharmacyclics is a leader in the hematological oncology market with Imbruvica® (ibrutinib), a first-in-class BTK-inhibitor used to treat hematological cancers, a $24 billion global market.
Pharmacyclics Inc. will become a subsidiary of AbbVie and operate from its Sunnyvale, California.
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