AbbVie to Buy Pharmacyclics for $21 Billion
March 5, 2015.
AbbVie Inc. (North Chicago, IL) is to buy Pharmacyclics (Sunnyvale, CA) for "about $21 billion", Reuters reports today.
The deal will give AbbVie access to what is expected to be one of the world's top-selling cancer drugs: Pharmacyclics' blood cancer treatment Imbruvica is predicted to hit $1 billion in US sales this year, with worldwide sales to reach $5.8 billion by 2020, according to Thomson Reuters Cortellis.
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