AbbVie boosts cancer drug pipeline with $21 billion Pharmacyclics deal

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 (NYSE:JNJ – News). AbbVie will pay $ 261.25 per share in cash and stock, a 13 percent premium to Pharmacyclics stock's closing price on Wednesday. AbbVie failed last October to buy Dublin-based Shire Plc (LSE …
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