Pharmacyclics
American biopharmaceutical company
From Wikipedia, the free encyclopedia
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]
 | |
| Type | Subsidiary |
|---|---|
| Nasdaq: PCYC | |
| Industry | Biopharmaceutical |
| Founded | 1991 |
| Founders | Jonathan Sessler, Richard A. Miller[1] |
| Headquarters | Sunnyvale, California |
Area served | Worldwide |
Key people | Robert Duggan, former CEO and Chairman |
| Revenue |  US$235 million (2013)[2] |
| US$110 million (2013)[2] | |
| US$86.1 million (2013)[2] | |
| Total assets | US$1.06 billion (2013)[2] |
| Total equity | US$829 million (2013)[2] |
| Parent | AbbVie |
| Website | pharmacyclics |
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. Imbruvica, the company’s flagship therapy, later became one of the most prescribed treatments for chronic lymphocytic leukemia (CLL). As part of the deal, AbbVie paid $261.25 per share in a mixture of both cash and AbbVie equity.[6] The merger closed in mid-2015.[7]
Duggan received 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]
