AbbVie touts $21B deal for Pharmacyclics, Pharmaceutical giant AbbVie(ABBV) won a three-way bidding competition to land cancer drugmaker Pharmacyclics (PCYC) in a $21 billion acquisition, company officials said Thursday.
North Chicago-based AbbVie said it will pay $261.25 per share to buy the Sunnyvale, Cal. biopharmaceutical firm, whose FDA approval for three types of blood cancer made it an enticing acquisition partner.
AbbVie's final offer topped a bid of approximately $250 per share from Johonson & Johnson, the suitor that had been widely expected to acquire Pharmacyclics, Bloomberg News reported.Read More
North Chicago-based AbbVie said it will pay $261.25 per share to buy the Sunnyvale, Cal. biopharmaceutical firm, whose FDA approval for three types of blood cancer made it an enticing acquisition partner.
AbbVie's final offer topped a bid of approximately $250 per share from Johonson & Johnson, the suitor that had been widely expected to acquire Pharmacyclics, Bloomberg News reported.Read More
