AbbVie completes acquisition of Pharmacyclics
AbbVie has completed the acquisition of Pharmacyclics, enhancing AbbVie's scientific and commercial presence in oncology. Pharmacyclics primarily is aligned with the $24 billion global hematological oncology market with Imbruvica (ibrutinib), a BTK-inhibitor used to treat hematological cancers.
Imbruvica is approved for use in four indications in the U.S. and is the only product to have received three Breakthrough Therapy designations by the FDA. As part of a worldwide partnership with Janssen Biotech, Imbruvica now is approved in nearly 50 countries. Imbruvica is in mid- and late-stage development for additional hematological oncology indications, with more than 60 clinical trials underway, including 13 in phase III development. Imbruvica also is in early-stage development for solid tumors. AbbVie will market Imbruvica in the U.S.
Across its oncology pipeline, AbbVie has five late-stage assets in clinical development positioned to launch within the next several years. Two programs, venetoclax, a Bcl-2 inhibitor, and duvelisib, a dual PI3 kinase inhibitor, are in development for hematological cancers. AbbVie intends to explore these assets in combination with Imbruvica to evaluate the potential for meaningful improvement beyond the current standard-of-care.
Pharmacyclics will be a wholly owned subsidiary of AbbVie and will operate from its previous Sunnyvale, Calif. headquarters. Wulff-Erik von Borcke, former head of AbbVie's global marketing, will lead Pharmacyclics as president. Combined with its existing facilities in Redwood City, Calif., AbbVie now employs more than 900 employees in California.