Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

May 4, 2015

AbbVie extends deadline for Pharmacyclics shares

Pharmaceutical giant AbbVie, which has operations in Worcester, has extended its offer to buy California-based Pharmacyclics to May 15, the company announced.

The extension comes about two months after AbbVie agreed to pay $261.25 per share, from a combination of cash and equity, to acquire Pharmacyclics. The transaction values Pharmacyclics at about $21 billion, and was approved by both companies' boards of directors.

Pharmacyclics makes the blood cancer treatment Imbruvica (ibrutinib), which has demonstrated “strong clinical efficacy across a broad range of hematologic malignancies and raised the standard of care for patients," according to Richard A. Gonzalez, AbbVie chairman and CEO.

Sign up for Enews

WBJ Web Partners

Related Content

0 Comments

Order a PDF