Pharmacyclics

Pharmacyclics LLC is an American biopharmaceutical company based in Sunnyvale, California. It is primarily focused on the development of cancer therapies.[2][3] In 2017, Xynomic Pharmaceuticals acquired all global rights to Abexinostat, Pharmacyclics' primary commercial product.[4]

Pharmacyclics LLC
Subsidiary
Traded asNASDAQ: PCYC
IndustryBiopharmaceutical
Founded1991 (1991)
FoundersJonathan Sessler, Richard A. Miller[1]
HeadquartersSunnyvale, California
Area served
Worldwide
Key people
Robert Duggan, former CEO and Chairman
ParentAbbVie
Websitepharmacyclics.com

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.[5] The merger is expected to close in mid-2015.[6]

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."[7][8][9][10][11]

As CEO and Chairman of Pharmacyclics since 2008, Robert Duggan has opted not to receive compensation from the company.[12][7]

References
  1. Lee Clippard (2006). "Professor's personal battle leads to development of new cancer drug". University of Texas. Retrieved May 30, 2015.
  2. Sawyer, Anthony (25 January 2018). "Pharmacyclics (PCYC) Given Daily Media Impact Score of 0.42". Week Herald. Retrieved 29 January 2018.
  3. "Pharmacyclics Inc. (PCYC)". Yahoo. Retrieved May 30, 2015.
  4. "Xynomic Acquires Global Rights to Anticancer Drug Abexinostat". Genetic Engineering & Biotechnology News. February 24, 2017. Retrieved February 25, 2017.
  5. Staff (5 March 2015). "AbbVie Acquires Oncology Drug Firm Pharmacyclics for $21B". Genetic Engineering & Biotechnology News.
  6. https://www.sec.gov/Archives/edgar/data/949699/000119312515079014/d885940dex991.htm
  7. "The $3.55 billion Man". America's Markets.
  8. Antoine Gara. "Robert Duggan". Forbes.
  9. "Pharmacyclics May Soon Be Acquired by Johnson & Johnson for $18 Billion". Science Times.
  10. "The Hiring Guru: Robert Duggan Billionaire". The Huffington Post.
  11. Sean Williams (27 February 2013). "This Is One Incredible CEO". fool.com.
  12. Gary Strauss (March 24, 2015). "The $3.55 billion Man". USA Today. Retrieved May 29, 2015.
    • Historical business data for Pharmacyclics:
    • SEC filings
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