Pharmacyclics' share price has tripled in the last 12 months, and its shares saw another 7% jump today after the company's flagship drug, Ibrutinib, was given the Breakthrough Therapy Designation from the FDA. This is also positive news for the company's partner, Johnson & Johnson, which has already paid Pharmacyclics $300 million and could give another $675 million if Ibrutinib meets its remaining milestones. In this video, health care analyst Max Macaluso discusses today's news.
Is this drug a good fit for Johnson & Johnson?
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The article Another Breakthrough for This Pharma originally appeared on Fool.com.
Max Macaluso, Ph.D. has no position in any stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool owns shares of Johnson & Johnson. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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