AbbVie buys blood cancer drug-maker for $21 billion
Pharmaceuticals giant AbbVie, which has operations in Worcester, has completed its purchase of California-based Pharmacyclics Inc., AbbVie announced Tuesday.
Pharmacyclics makes the blood cancer treatment Imbruvica (ibrutinib). The $21 billion acquisition enhances AbbVie’s scientific and commercial presence in oncology, North Chicago-based AbbVie said in a statement.
“The Pharmacyclics team has built an important and rapidly growing franchise with significant long-term potential across a range of hematological cancers," AbbVie chairman and CEO Richard A. Gonzalez said in the statement.
Pharmacyclics will be a wholly-owned subsidiary of AbbVie and will operate from its previous Sunnyvale, Calif. headquarters. Wulff-Erik von Borcke, former head of AbbVie's global marketing, will be president of Pharmacyclics.
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