The Traderszone Network

Published in TZ Latest News 5 March, 2015 by The TZ Newswire Staff

AbbVie Makes Cancer Therapy Push

The price is 39 percent higher than Pharmacyclics’s closing price on Feb. 24, the day before Bloomberg News reported that the company was considering a deal. The purchase would help AbbVie reduce its reliance on Humira, its best-selling rheumatoid arthritis treatment while expanding into cancer therapy, one of the most promising areas of drug development. It would gain control of Imbruvica, an easy-to-use pill that costs about $100,000 a year, avoids certain serious side effects of chemotherapy, and is already approved for four different blood cancer uses.

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