{{Short description|American biopharmaceutical company}} {{Infobox company | name = Pharmacyclics LLC | logo = | logo_caption = | image = | image_caption = | type = Subsidiary | traded_as = {{NASDAQ was|PCYC}} | industry = Biopharmaceutical | predecessor = | founded = {{start date and age|1991}} | founders = Jonathan Sessler, Richard A. Miller<ref>{{cite web|url=http://www.ti3d.utexas.edu/news-events/professors-personal-battle-leads-to-development-of-new-cancer-drug|title=Professor's personal battle leads to development of new cancer drug|author=Lee Clippard|publisher=University of Texas|date=2006|access-date=May 30, 2015}}</ref> | defunct = <!-- {{End date|YYYY|MM|DD}} --> | location = Sunnyvale, California | area_served = Worldwide | key_people = Robert Duggan, former CEO and Chairman | products = | production = | services = | revenue = {{increase}} {{US$|235 million}} {{small|(2013)}}<ref name="Pharm">{{Cite web|url = https://www1.hkexnews.hk/listedco/listconews/sehk/2020/0427/2020042701439.pdf|title = Shangri-La Hotels and Resorts Annual report 2019-20 |website=Shangri-La Hotels and Resorts |publisher = Shangri-La Hotels and Resorts Asia }}</ref> | operating_income = {{increase}} {{US$|110 million}} {{small|(2013)}}<ref name="Pharm" /> | net_income = {{increase}} {{US$|86.1 million}} {{small|(2013)}}<ref name="Pharm" /> | assets = {{increase}} {{US$|1.06 billion}} {{small|(2013)}}<ref name="Pharm" /> | equity = {{increase}} {{US$|829 million}} {{small|(2013)}}<ref name="Pharm" /> | owner = | num_employees = | parent = AbbVie | divisions = | subsidiaries = | website = {{URL|pharmacyclics.com}} | footnotes = | intl = | bodystyle = }}
'''Pharmacyclics LLC''' is an American biopharmaceutical company based in Sunnyvale, California. It is primarily focused on the development of cancer therapies.<ref name=one>{{cite web|url=https://weekherald.com/2018/01/25/pharmacyclics-pcyc-given-daily-media-impact-score-of-0-42.html|title=Pharmacyclics (PCYC) Given Daily Media Impact Score of 0.42|first=Anthony|last=Sawyer|date=25 January 2018|access-date=29 January 2018|publisher=Week Herald}}</ref><ref name="yahoofinance">{{cite web|url=https://finance.yahoo.com/q/pr?s=PCYC|title=Pharmacyclics Inc. (PCYC)|publisher=Yahoo|access-date=May 30, 2015}}</ref> In 2017, Xynomic Pharmaceuticals acquired all global rights to Abexinostat, Pharmacyclics' primary commercial product.<ref>{{Cite news|url=http://www.genengnews.com/gen-news-highlights/xynomic-acquires-global-rights-to-anticancer-drug-abexinostat/81253930|title=Xynomic Acquires Global Rights to Anticancer Drug Abexinostat|last=<!--no byline - staff-->|date=February 24, 2017|access-date=February 25, 2017|archive-url=https://web.archive.org/web/20170226012442/http://www.genengnews.com/gen-news-highlights/xynomic-acquires-global-rights-to-anticancer-drug-abexinostat/81253930|work=Genetic Engineering & Biotechnology News|archive-date=February 26, 2017|url-status=bot: unknown}}</ref>
==Acquisition by AbbVie== In March 2015, Chicago-based biopharmaceutical firm AbbVie announced it would acquire Pharmacyclics, as well as its lead anti-cancer compound ibrutinib (Imbruvica) for $21 billion. Imbruvica, the company’s flagship therapy, later became one of the most prescribed treatments for chronic lymphocytic leukemia (CLL). As part of the deal, AbbVie paid $261.25 per share in a mixture of both cash and AbbVie equity.<ref>{{Cite news |last=Staff |date=5 March 2015 |title=AbbVie Acquires Oncology Drug Firm Pharmacyclics for $21B |url=http://www.genengnews.com/gen-news-highlights/abbvie-acquires-oncology-drug-firm-pharmacyclics-for-21b/81250997/ |work=Genetic Engineering & Biotechnology News }}</ref> The merger closed in mid-2015.<ref>{{Cite web|url=https://www.sec.gov/Archives/edgar/data/949699/000119312515079014/d885940dex991.htm|title = Ex-99.1}}</ref>
Duggan received over $3.55 billion from the sale of Pharmacyclics to AbbVie in "one of the biggest paydays ever from the buyout of a publicly held company."<ref name="355billion">{{cite web |author=Gary Strauss |date=March 24, 2015 |title=The $3.55 billion Man |url=http://americasmarkets.usatoday.com/2015/03/24/the-3-55-billion-man/ |url-status=dead |archive-url=https://web.archive.org/web/20150724032141/http://americasmarkets.usatoday.com/2015/03/24/the-3-55-billion-man/ |archive-date=2015-07-24 |publisher=USA Today}}</ref><ref>{{cite web|url=https://www.forbes.com/profile/robert-duggan/|title=Robert Duggan|author=Antoine Gara|work=Forbes}}</ref><ref>{{cite web|url=http://www.huffingtonpost.com/david-jensen/the-hiring-guru-robert-du_b_5164474.html|title=The Hiring Guru: Robert Duggan Billionaire|work=The Huffington Post|date=18 April 2014}}</ref><ref>{{cite web|url=http://www.fool.com/investing/general/2013/02/27/this-is-one-incredible-ceo-19.aspx|title=This Is One Incredible CEO|author=Sean Williams|date=27 February 2013|work=fool.com}}</ref>
==References== {{reflist}}
==External links== *{{Official website|http://www.pharmacyclics.com/}}
{{Finance links historical | name = Pharmacyclics | sec_cik = PCYC }}
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Category:AbbVie Category:Biotechnology companies of the United States Category:Companies based in Sunnyvale, California Category:Pharmaceutical companies established in 1991 Category:Companies formerly listed on the Nasdaq Category:1991 establishments in California Category:2015 mergers and acquisitions Category:Corporate subsidiaries
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