Big pharma, M&A

Abbvie acquires Pharmacyclics for $21 billion

Posted on 09 March 2015

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AbbVie will acquire Pharmacyclics, and its flagship asset Imbruvica (ibrutinib), a highly effective treatment for hematologic malignancies.

The acquisition accelerates AbbVie's clinical and commercial presence in oncology, strengthening its already robust pipeline, and establishing its strong leadership position in hematological oncology – an attractive and rapidly growing market, now approaching $24 billion globally.

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The acquisition adds to AbbVie's already comprehensive pipeline and strong growth prospects.

Under the terms of the transaction, AbbVie will pay $261.25 per share comprised of a mix of cash and AbbVie equity.

The transaction values Pharmacyclics at approximately $21 billion and was approved by the Boards of Directors of both companies.

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