AbbVie to Acquire Pharmacyclics For Approximately $21 Billion

AbbVie Inc. and Pharmacyclics Inc. March 4 announced a definitive agreement under which AbbVie will acquire Pharmacyclics and its blood cancer drug Imbruvica (ibrutinib) 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 transaction values Pharmacyclics at approximately $21 billion and was approved by the boards of directors of both companies.

Imbruvica is a Bruton’s tyrosine kinase (BTK) 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. ...