Pharmacyclics

Pharmacyclics LLC
TypeSubsidiary
Nasdaq: PCYC
IndustryBiopharmaceutical
Founded1991; 35 years ago (1991)
FoundersJonathan Sessler, Richard A. Miller
HeadquartersSunnyvale, California
Area served
Worldwide
Key peopleRobert Duggan, former CEO and Chairman
RevenueIncrease US$235 million (2013)
Increase US$110 million (2013)
Increase US$86.1 million (2013)
Total assetsIncrease US$1.06 billion (2013)
Total equityIncrease US$829 million (2013)
ParentAbbVie
Websitepharmacyclics.com

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

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. The merger closed in mid-2015.

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."

References

  1. ↑ Lee Clippard (2006). "Professor's personal battle leads to development of new cancer drug". University of Texas. Retrieved May 30, 2015.
  2. 1 2 3 4 5 "Shangri-La Hotels and Resorts Annual report 2019-20" (PDF). Shangri-La Hotels and Resorts. Shangri-La Hotels and Resorts Asia.
  3. ↑ Sawyer, Anthony (25 January 2018). "Pharmacyclics (PCYC) Given Daily Media Impact Score of 0.42". Week Herald. Retrieved 29 January 2018.
  4. ↑ "Pharmacyclics Inc. (PCYC)". Yahoo. Retrieved May 30, 2015.
  5. ↑ "Xynomic Acquires Global Rights to Anticancer Drug Abexinostat". Genetic Engineering & Biotechnology News. February 24, 2017. Archived from the original on February 26, 2017. Retrieved February 25, 2017.{{cite news}}: CS1 maint: bot: original URL status unknown (link)
  6. ↑ Staff (5 March 2015). "AbbVie Acquires Oncology Drug Firm Pharmacyclics for $21B". Genetic Engineering & Biotechnology News.
  7. ↑ "Ex-99.1".
  8. ↑ Gary Strauss (March 24, 2015). "The $3.55 billion Man". USA Today. Archived from the original on 2015-07-24.
  9. ↑ Antoine Gara. "Robert Duggan". Forbes.
  10. ↑ "The Hiring Guru: Robert Duggan Billionaire". The Huffington Post. 18 April 2014.
  11. ↑ Sean Williams (27 February 2013). "This Is One Incredible CEO". fool.com.