AbbVie boosts cancer drug pipeline with $21 billion Pharmacyclics deal – Reuters

AbbVie is going for the big home run with the Pharmacyclics deal

jumpAbbVie is to buy Pharmacyclics for about $21 billion, giving it access to what is expected to be one of the world’s top-selling cancer drugs and expanding its reach in the profitable oncology field.

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.

More on the deal

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