Pharmacyclics
| Subsidiary of AbbVie | |
| Traded as | Formerly NASDAQ: PCYC |
| Industry | Biopharmaceutical |
| Founded | 1991 |
| Founders | Jonathan Sessler, Richard A. Miller[1] |
| Headquarters | Sunnyvale, California |
|
Area served
|
Worldwide |
|
Key people
|
Robert Duggan, former CEO and Chairman |
| Parent | AbbVie |
| Website | pharmacyclics |
Pharmacyclics LLC is an American biopharmaceutical company based in Sunnyvale, California. Its primary focus is upon the development of "novel therapies for the treatment of cancer and immune-mediated diseases."[2]
Acquisition by AbbVie
In March 2015, Chicago-based biopharmaceutical firm AbbVie announced it would acquire oncology firm Pharmacyclics, as well as its lead anti-cancer compound ibrutinib (Imbruvica) for $21 billion. As part of the deal AbbVie will pay $261.25 per share in a mixture of both cash and AbbVie equity.[3] The merger is expected to close in mid-2015.[4]
Duggan will receive 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."[5][6][7][8][9]
As CEO and Chairman of Pharmacyclics since 2008, Robert Duggan has opted not to receive compensation from the company.[10][5]
References
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- ↑ http://www.genengnews.com/gen-news-highlights/abbvie-acquires-oncology-drug-firm-pharmacyclics-for-21b/81250997/
- ↑ http://www.sec.gov/Archives/edgar/data/949699/000119312515079014/d885940dex991.htm
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- Pages with reference errors
- Pages using infobox company with unsupported parameters
- Official website not in Wikidata
- Biotechnology companies
- Companies based in Sunnyvale, California
- Pharmaceutical companies established in 1991
- Orphan drug companies
- Life sciences industry
- Companies formerly listed on NASDAQ
- 1991 establishments in California
