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 northwestern Santa Clara County, California, United States. Sunnyvale lies along the historic El Camino Real (California), El Camino Real and U.S. Route 101 in California, Highway 1 ...

. It is primarily focused on the development of cancer therapies. In 2017, Xynomic Pharmaceuticals acquired all global rights to Abexinostat, Pharmacyclics' primary commercial product.

Acquisition by AbbVie

In March 2015,

Chicago Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of Unite ...

-based biopharmaceutical firm

AbbVie AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. It is ranked sixth on the list of largest biomedical companies by revenue. In 2023, the company's seat in Forbes Global 2000 was 74, and rank 89 on the ...

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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* AbbVie Biotechnology companies of the United States Companies based in Sunnyvale, California Pharmaceutical companies established in 1991 Companies formerly listed on the Nasdaq 1991 establishments in California 2015 mergers and acquisitions Corporate subsidiaries {{US-company-stub