The Traderszone Network

Published in TZ Latest News 4 March, 2015 by The TZ Newswire Staff

AbbVie to buy cancer drug maker Pharmacyclics in $21 billion deal

AbbVie will pay $261.25 per share in cash and stock, a 13 percent premium to Pharmacyclics stock’s closing price on Wednesday on the Nasdaq. Pharmacyclics stockholders can elect cash, AbbVie stock or a combination, subject to proration, the company said in a statement. “Imbruvica is not only complementary to AbbVie’s oncology pipeline, it has demonstrated strong clinical efficacy across a broad range of hematologic malignancies,” AbbVie’s Chief Executive, Richard Gonzalez, said in a statement. Sales of Imbruvica, which has U.S.

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