AbbVie takes over Pharmacyclics in latest Big Pharma takeover

The $ 21bn takeover adds major blood cancer treatments to pharmaceutical company’s portfolio

US drugmaker AbbVie is beefing up its cancer portfolio with the $ 21bn takeover of California-based Pharmacyclics.

The deal comes six months after a US crackdown on tax inversion deals scuppered AbbVie’s $ 54bn acquisition of London-listed Shire. The move will reduce the Chicago drugmaker’s reliance on its anti-inflammatory drug Humira, which treats rheumatoid arthritis and Crohn’s disease. It is the world’s best-selling drug at present and accounts for the bulk of AbbVie sales, but will lose patent protection in late 2016.

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Pharmaceuticals industry | The Guardian

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