Tag Archives: pcyc

Top 5 IBD 50 Drug Stocks Thriving Via Acquisitions

The recent flurry of deal-making in the drug sector has put the spotlight on other top-rated drugmakers that have grown with the help of savvy mergers and acquisitions. In just the past week, AbbVie (ABBV) agreed to buy Pharmacyclics (PCYC) for $21 billion, beating out Johnson & Johnson (JNJ), and Mallinckrodt (MNK) announced a $2.3 billion deal to acquire privately held Ikaria. The latest IBD 50 includes five drugmakers that are growing quickly

AbbVie Stock Slides On Pricey Pharmacyclics Deal

Big pharma AbbVie’s $21 billion deal to acquire hot biotech Pharmacyclics was met with widespread skepticism by AbbVie investors Thursday, sending AbbVie’s stock down 4% in afternoon trading. AbbVie (ABBV) announced the cash-and-stock acquisition late Wednesday after rumors had been swirling all afternoon that Novartis (NVS) and Johnson & Johnson (JNJ) were engaged in a bidding war for Pharmacyclics (PCYC). It surprised Wall Street that AbbVie

AbbVie Will Buy Pharmacyclics For $21 Billion

AbbVie (ABBV) agreed late Wednesday to pay $21 billion to acquire Pharmacyclics (PCYC), maker of blockbuster blood cancer drug Imbruvica. AbbVie will pay $261.25 per share in cash and stock. That’s 13% above Pharmacyclics’ closing price on Wednesday. But the biotech closed up 6.3% to a record high Wednesday on buyout buzz — and that followed a 16.9% spike on Feb. 25 on previous takeover talk. AbbVie’s offer is 39% above Pharmacyclics’ stock as of