Pharmacyclics

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 for $21 billion. Imbruvica, the company’s flagship therapy, later became one of the most prescribed treatments for chronic lymphocytic leukemia. 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."