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AbbVie boosts cancer drug pipeline with $21 billion Pharmacyclics deal

2015-03-05 13:11:44| Biotech - Topix.net

AbbVie Inc is to buy Pharmacyclics Inc for about $21 billion, giving it access to what is expected to be one of the world's top-selling cancer drugs and expanding its reach in the profitable oncology field. The deal -- the latest example of a big drugmaker swooping on a biotech firm to refill its medicine pipeline -- confounds expectations that Pharmacyclics would sell out to Johnson & Johnson .

Tags: deal drug cancer billion

Category:Biotechnology and Pharmaceuticals

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