NAPSRx News: Abbvie will acquire Pharmacyclics for an astounding $21 Billion

WASHINGTON - March 5, 2015 - PRLog -- In an effort to expand their presence in the oncology market and expand their already resilient pipeline, Abbvie will acquire Pharmacyclics  including its blockbuster product Imbruvica, a first class BTK inhibitor approved for hematologic malignancies. According to the terms and agreement, Abbvie is expected to pay $261.25 per share and the total transaction value is expected to reach approximately $21 billion. This is the ninth-largest M&A transaction in health care history.

Imbruvica is currently approved in more than 40 countries and is intended to treat three different types of blood cancers which includes chronic lymphocytic leukemia, mantle cell lymphoma and Waldenstrom's macroglobulinemia. Abbvie plans to explore additional indications for Imbruvica which may include solid tumors and the company will apply its immunology expertise to develop the Pharmacyclics’ immunology program. "The acquisition of Pharmacyclics is a strategically compelling opportunity.  The addition of Pharmacyclics' talented and innovative team will add enormous value to AbbVie," said Richard A. Gonzalez, chairman and chief executive officer, AbbVie.  "Its flagship product, Imbruvica®, is not only complementary to AbbVie's oncology pipeline, it has demonstrated strong clinical efficacy across a broad range of hematologic malignancies and raised the standard of care for patients."

"Team Pharmacyclics is honored and enthusiastic to join the AbbVie organization.  We share a common purpose.  Together and as one, our focus remains to create a remarkable difference for patient betterment around the world," said Bob Duggan, chairman and chief executive officer, Pharmacyclics.

Industry analysts predict Imbruvica sales will propel 2014 to 2020 revenue growth for Abbvie from 3% to 7% and expect sales to reach $7.5 billion by 2020.

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The NAPSRx® is a trade association for pharmaceutical sales reps, sales managers and sales trainers who work in the pharmaceutical industry. NAPSRx® provides Continuing Medical Education to its members as well as CNPR® Certification to candidates who look to enter a pharmaceutical sales career. The CNPR is a federally trademarked certification you can earn by demonstrating the necessary knowledge in pharmacology, medical terminology, physiology, and regulations for selling pharmaceuticals.

The CNPR® Program represents a level of industry achievement and a demonstrated knowledge of pharmacology, medical terminology, pharmaceutical selling guidelines, physician selling techniques and industry standards. Upon successful completion of the training each student will receive the Certification Mark of the CNPR®.
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