BioCentury
ARTICLE | Finance

Ibrutinib force

Sale of royalties in Pharmacyclics' ibrutinib pays for Quest's takeout of Celera

July 29, 2013 7:00 AM UTC

Without generating a single cent in sales, ibrutinib has already produced at least $835 million in cash for its current and former owners, including $350 million in partnership money for Pharmacyclics Inc. (NASDAQ:PCYC) and $485 million pocketed by Quest Diagnostics Inc. (NYSE:DGX) this month through the sale of its residual royalty stake.

Earlier this month, Pharmacyclics submitted an NDA to FDA for the Bruton's tyrosine kinase (Btk) inhibitor to treat relapsed or refractory mantle cell lymphoma (MCL) and to treat chronic lymphocytic leukemia (CLL) or small cell lymphocytic lymphoma (SLL)...