Report: Pharmacyclics Inc. To Be Acquired By Johnson & Johnson

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Pharmacyclics Inc.
PCYC
will get acquired by Johnson & Johnson
JNJ
according to an unconfirmed report Wednesday by Bloomberg. The report, citing unnamed sources, said Pharmacyclics may fetch up to $18 billion in a sales agreement that could get unveiled Thursday. Pharmacyclics market capitalization as of Wednesday is $16.54 billion. The Sunnyvale, California-based cancer drug maker changed hands in the extended session recently at $236.98, after closing at $230.48. The shares are up more than 40 percent during the past month. Bloomberg reported Feb. 25 that Pharmacyclics was considering a sale and had obtained interest from both Johnson & Johnson as well as Novartis AG
NVS
.
Posted In: NewsM&A
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