AbbVie $21 billion acquisition of Pharmacyclics

Overview:

• AbbVie, a North Chicago, Illinois-based pharmaceutical company, has acquired Pharmacyclics, a Sunnyvale, California-based pharmaceutical company, for $21 billion.
• As a result of this acquisition, Abbvie acquired Imbruvica, a drug intended for treating blood cancer. 
• AbbVie issued $16.7 billion of notes to partially finance the acquisition.
• This included an issue of $3 billion 1.8% senior notes due 2018, $3.75 billion 2.5% senior notes due 2020, $1 billion 3.2% senior notes due 2022, $3.75 billion 3.6% senior notes due 2025, $2.5 billion 4.5% senior notes due 2035 and $2.7 billion 4.7% senior notes due 2045.

Rani Mehta - Journalist