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]
Company 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 |
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]