Press Release March 05, 2015

Goodwin Represents Centerview Partners in AbbVie’s $21 Billion Acquisition of Pharmacyclics

Goodwin Procter represented investment bank Centerview Partners in connection with AbbVie’s announced $21 billion acquisition of Pharmacyclics, a biopharmaceutical company, and its flagship product Imbruvica®. Centerview acted as a financial advisor to Pharmacyclics.

According to the terms of the transaction, AbbVie will pay $261.25 per share representing a mix of cash and AbbVie equity. The transaction is subject to customary closing conditions and approvals, and the tender of a majority of outstanding shares of Pharmacyclics’ common stock. The deal is expected to close in the middle of 2015.

With offices in London, New York, Los Angeles and San Francisco, Centerview Partners is a leading independent investment banking and advisory firm. The firm provides advice on mergers and acquisitions, financial restructurings, valuation, and capital structure to companies, institutions and governments. Since its founding in 2006, the firm has advised on over $900 billion of transactions.

Pharmacyclics, traded on Nasdaq under ticker “PCYC”, is a biopharmaceutical company focused on developing and commercializing innovative small-molecule drugs for the treatment of cancer and immune mediated diseases. The company's mission is to build a viable biopharmaceutical company that designs, develops and commercializes novel therapies intended to improve quality of life, increase duration of life and resolve serious unmet medical needs. It will do so by identifying and controlling promising product candidates based on scientific development and administrative expertise, developing its products in a rapid, cost-efficient manner, and pursuing commercialization and/or development partners when and where appropriate. Headquartered in Sunnyvale, Calif., Pharmacyclics markets Imbruvica® and has three product candidates in clinical development and several preclinical molecules in lead optimization.

The Goodwin team advising Centerview included Stuart Cable, Jacqueline Mercier, James Matarese, Deborah Birnbach and Kirby Lewis.

For more information, please read the companies’ joint press release. Press coverage surrounding the transaction included articles in the Financial Times, Bloomberg, Chicago Tribune and Reuters.