Pharmacyclics LLC is an American

biopharmaceutical A biopharmaceutical, also known as a biological medical product, or biologic, is any pharmaceutical drug product manufactured in, extracted from, or semisynthesized from biological sources. Different from totally synthesized pharmaceuticals, t ...

company based in

Sunnyvale, California Sunnyvale () is a city located in the Santa Clara Valley in northwest Santa Clara County in the U.S. state of California. Sunnyvale lies along the historic El Camino Real and Highway 101 and is bordered by portions of San Jose to the nort ...

. It is primarily focused on the development of cancer therapies. In 2017, Xynomic Pharmaceuticals acquired all global rights to

Abexinostat Abexinostat (INN, formerly PCI-24781) is an experimental drug candidate for cancer treatment. It was developed by Pharmacyclics and licensed to Xynomic. and is in Phase II clinical trials for B-cell lymphoma. Pre-clinical study suggests the po ...

, Pharmacyclics' primary commercial product.

Acquisition by AbbVie

In March 2015,

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

-based biopharmaceutical firm

AbbVie AbbVie is an American publicly traded biopharmaceutical company founded in 2013. It originated as a spin-off of Abbott Laboratories. History On October 19, 2011, Abbott Laboratories announced its plan to separate into two publicly traded compan ...

announced it would acquire Pharmacyclics, as well as its lead anti-cancer compound

ibrutinib Ibrutinib, sold under the brand name Imbruvica among others, is a small molecule drug that inhibits B-cell proliferation and survival by irreversibly binding the protein Bruton's tyrosine kinase (BTK). Blocking BTK inhibits the B-cell receptor ...

(Imbruvica) for $21 billion. As part of the deal, AbbVie will pay $261.25 per share in a mixture of both cash and AbbVie equity. The merger is expected to close in mid-2015. Duggan will receive over $3.55 billion from the sale of Pharmacyclics to

in "one of the biggest paydays ever from the buyout of a publicly held company." As CEO and Chairman of Pharmacyclics since 2008, Robert Duggan has opted not to receive compensation from the company.

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* {{Finance links historical , name = Pharmacyclics , sec_cik = PCYC AbbVie Biotechnology companies of the United States Companies based in Sunnyvale, California Pharmaceutical companies established in 1991 Orphan drug companies Companies formerly listed on the Nasdaq 1991 establishments in California 2015 mergers and acquisitions Corporate subsidiaries