"This transaction is consistent with our strategy to refocus on our core diagnostic information services business. The ibrutinib royalty rights were not core to our business. After considering interest in ibrutinib, we conducted a robust market process, and believe that selling now is in the best interests of our shareholders. We expect to use the proceeds to drive shareholder value, consistent with our capital deployment strategy."
Steve Rusckowski, Quest Diagnostics, President & Chief Executive Officer
"We are pleased to have had an opportunity to work with Quest in this win-win transaction, in which Quest was able to dispose of a non-core asset as part of its strategic plan and we were able to acquire an interest in ibrutinib, an exciting potential therapy addressing the needs of patients with chronic lymphocytic leukemia, small lymphocytic lymphoma and mantle cell lymphoma."
Pablo Legorreta, Royalty Pharma, Founder & Chief Executive Officer
Mantle Cell Lymphoma (MCL)
APPLICATIONS IN DEVELOPMENT
Relapsed/Refractory Chronic Lymphocytic Leukemia (CLL)
IMBRUVICA™ (ibrutinib) is a novel Bruton's tyrosine kinase (BTK) inhibitor being jointly developed by Janssen and Pharmacyclics Inc. for the treatment of B-cell malignancies.
IMBRUVICA is the first in a class of oral BTK inhibitors and is one of the first medicines to receive FDA approval via the new Breakthrough Therapy Designation pathway. IMBRUVICA addresses a high unmet need in relapsed/refractory chronic lymphocytic leukemia and mantle cell lymphoma.