AbbVie completes Pharmacyclics purchase in $21 billion deal
US drugmaker AbbVie (NYSE: ABBV) has completed a $21 billion acquisition of Pharmacyclics.
This purchase will enhance AbbVie’s presence in oncology, namely the hematological oncology market through picking up Pharmacyclics’ Imbruvica (ibrutinib), a first-in-class BTK-inhibitor used to treat hematological cancers.
Richard Gonzalez, chairman and chief executive of AbbVie, said: "The companies' shared expertise, combined with AbbVie's broad late-stage oncology pipeline, has the potential to transform the cancer treatment landscape for hematological malignancies and improve patient outcomes and quality of life. Today marks a significant step forward in our effort to become a leader in oncology and meaningfully augment our long-term growth strategy. The Pharmacyclics team has built an important and rapidly growing franchise with significant long-term potential across a range of hematological cancers."
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