Bob Duggan has been mentioned, featured, and honored in the following publications:
Pharmaceutical giant AbbVie (ABBV) finishes its acquisition of Pharmacyclics (PCYC) as of May 26, 2015. By acquiring the leader in treating hematological cancers, Abbvie hopes to ultimately transform the $24 billion global cancer treatment market.
Bob Duggan remains one of the most influential entrepreneurs in the BioPharma industry, both for his extraordinary success and for his generous loyalty to his employees.
In March of 2015, AbbVie (ABBV) announced its $21 billion acquisition of Pharmacylics (PCYC), the leader in treating hematological cancers. That merger has many moving parts — it is a mix of cash and stock, it will allow stockholders to elect how they want to be paid, and it will even use a 10-day weighted average to calculate precise stock considerations.
Ever since he began as CEO of bio-tech leader Pharmacyclics back in 2008, Robert Duggan has declined annual salary compensation. But his dedication is about to pay off — Duggan is set to earn over $3.5 billion after the AbbVie acquisition closes over the next few months.
Billionaire Robert Duggan’s Bet on Pharmacyclics Stands Among the Top Trades of the Crisis Era – March 5, 2015
Entrepreneur and investor Robert Duggan is set to make a return on his Pharmacyclics investment so grand that it ranks as one of the top trades of the past decade. When he began buying PCYC shares back before the crash of 2008, the stock value began to drop to $10, $4, and $3. Duggan continued to buy, even when the stock dropped below $1, until he had built up a 25% stake in the company. Today, Duggan’s dedication to the company will earn him over $3.5 billion.
It took more than 20 years for Pharmacyclics to launch Imbruvica, the company’s highly effective drug in treating hematologic cancers and malignancies. But the payoff will be immense — AbbVie has agreed to acquire the biotech giant for $21 billion, making it the largest biotech acquisition in a year already flooded by record-breaking sector deals.
AbbVie to Acquire Pharmacyclics, Including Its Blockbuster Product Imbruvica, Creating an Industry Leading Hematological Oncological Franchise – March 4, 2015
Today, AbbVie (ABBV) and Pharmacyclics (PCYC) announced an agreement whereby AbbVie will acquire Pharmacyclics and its blockbuster drug Imbruvica, which is a highly effective drug for treating hematological cancers. The transaction values Pharmacyclics at approximately $21 billion and was approved by the Boards of Directors of both companies.
Like other great leaders, Robert Duggan attributes his success as a CEO to surrounding himself with great people. In addition to that, treating co-workers with respect and making everyone accountable to not only themselves but also the rest of the team has driven results. Hiring the right people and establishing a system where everyone wins is a powerful combination. Robert Duggan is a great example of what can be achieved when these two important components are in place.