The Financial Times on
Wednesday reported that Johnson & Johnson is close to buying cancer drug
maker Pharmacyclics Inc in the coming days.
A bid from J&J is expected to value Pharmacyclics near
its $17.5 billion market value or at a premium, FT said. Shares of
Pharmacyclics, which markets blood cancer drug Imbruvica with J&J's Janssen
unit, increased about 3 percent in extended trading.
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Pharmacyclics has earlier said that sales of Imbruvica, which has U.S. approvals for four forms of blood cancer, are expected to touch $1 billion in the United States this year.
Bloomberg reported last month that Pharmacyclics was mulling
a sale and had attracted the interest of J&J and Novartis AG. Any interest from J&J would be logical, considering its
already established relationship with Pharmacyclics, experts in the industry
said.
Source: Medindia
Source: Medindia
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A recent research has proved that increased survival in colorectal cancer is possible with the use of a popular indigestion medication.
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