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AbbVie To Acquire Pharmacyclics For $21B (ABBV)

Shauna O'Brien Mar 05, 2015


Before the opening bell on Thursday, AbbVie (ABBV ) announced that it has agreed to acquire Pharmacyclics for about $21 billion.


AbbVie will acquire Pharmacyclics, the maker of hematologic malignancies treatment Imbruvica in a cash and stock deal worth $21 billion, or $261.25 per share. According to ABBV, the deal will be accretive to its 2017 earnings.

The acquisition will allow ABBV to increase its presence in the oncology space, which deals with fighting various cancers. This will also add to the drug company’s already robust drug pipeline.

The deal will consist of 58% cash, and 42% of ABBV’s common stock. It expected to close in mid-2015.

Richard Gonzalez, chairman and CEO commented: “The acquisition of Pharmacyclics is a strategically compelling opportunity…Its flagship product, Imbruvica, is not only complementary to AbbVie’s oncology pipeline, it has demonstrated strong clinical efficacy across a broad range of hematologic malignancies and raised the standard of care for patients.”


ABBV Dividend Snapshot

As of market close on March 4, 2015


ABBV dividend yield annual payout payout ratio dividend growth


Click here to see the complete history of ABBV dividends.


The Bottom Line


Shares of ABBV were down $3.09, or 5.13% during premarket trading Thursday. The stock is down 7.9% YTD.

AbbVie (ABBV ) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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