Quest sells royalty rights to cancer drug ibrutinib for $485M

07/19/2013 | Genetic Engineering & Biotechnology News

Royalty Pharma agreed to pay $485 million in cash to acquire Quest Diagnostics' royalty rights from commercialization of ibrutinib, a drug candidate for chronic lymphocytic leukemia, small lymphocytic lymphoma and mantle cell lymphoma. The drug is being jointly developed by Pharmacyclics and Janssen Biotech. Quest obtained the royalty rights as part of its purchase of Celera in 2011.

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