Pharmacyclics

Pharmacyclics

Pharmacyclics

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Pharmacyclics LLC is an American biopharmaceutical company based in Sunnyvale, California. It is primarily focused on the development of cancer therapies.[3][4] In 2017, Xynomic Pharmaceuticals acquired all global rights to Abexinostat, Pharmacyclics' primary commercial product.[5]

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Acquisition by AbbVie

In March 2015, Chicago-based biopharmaceutical firm AbbVie announced it would acquire 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.[6] The merger is expected to close in mid-2015.[7]

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."[8][9][10][11][12]

As CEO and chairman of Pharmacyclics since 2008, Robert Duggan has opted not to receive compensation from the company.[8]

References

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    Lee Clippard (2006). "Professor's personal battle leads to development of new cancer drug". University of Texas. Retrieved May 30, 2015.
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    "Shangri-La Hotels and Resorts Annual report 2019-20" (PDF). Shangri-La Hotels and Resorts. Shangri-La Hotels and Resorts Asia.
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    Sawyer, Anthony (25 January 2018). "Pharmacyclics (PCYC) Given Daily Media Impact Score of 0.42". Week Herald. Retrieved 29 January 2018.
  4. [4]
    "Pharmacyclics Inc. (PCYC)". Yahoo. Retrieved May 30, 2015.
  5. [5]
    "Xynomic Acquires Global Rights to Anticancer Drug Abexinostat". Genetic Engineering & Biotechnology News. February 24, 2017. Retrieved February 25, 2017.
  6. [6]
    Staff (5 March 2015). "AbbVie Acquires Oncology Drug Firm Pharmacyclics for $21B". Genetic Engineering & Biotechnology News.
  7. [7]
    "Ex-99.1".
  8. [8]
    Gary Strauss (March 24, 2015). "The $3.55 billion Man". USA Today. Archived from the original on 2015-07-24.
  9. [9]
    Antoine Gara. "Robert Duggan". Forbes.
  10. [10]
    "Pharmacyclics May Soon Be Acquired by Johnson & Johnson for $18 Billion". Science Times. 3 March 2015.
  11. [11]
    "The Hiring Guru: Robert Duggan Billionaire". The Huffington Post. 18 April 2014.
  12. [12]
    Sean Williams (27 February 2013). "This Is One Incredible CEO". fool.com.
    • Historical business data for Pharmacyclics:
    • SEC filings
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