AbbVie May Not Be Done After Pharmacyclics Deal: Deutsche Bank
2015-03-05 10:06:21.808 GMT
By Allison Connolly
(Bloomberg) -- AbbVie’s purchase of PCYC won’t affect its
capability to do future deals as the co. will be generating
>$7b/yr free cash flow in coming years, Deutsche Bank (buy) says
in note.
* Notes co. was about to do Shire deal ($54b) and this deal
isn’t even 50% of that
* Says PCYC acquisition is positive for ABBV as it provides
co. w/ near-term top-line growth and diversifies the
business beyond Humira
* Says deal could add 18%-19% to ABBV EPS in 2020-2021
timeframe; increases est. 2014-2020 rev growth from 3% to 7%
& EPS growth from 8% to 11%
* NOTE: Earlier, Abbvie to Buy Pharmacyclics for $261.25/Share
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To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
2015-03-05 10:06:21.808 GMT
By Allison Connolly
(Bloomberg) -- AbbVie’s purchase of PCYC won’t affect its
capability to do future deals as the co. will be generating
>$7b/yr free cash flow in coming years, Deutsche Bank (buy) says
in note.
* Notes co. was about to do Shire deal ($54b) and this deal
isn’t even 50% of that
* Says PCYC acquisition is positive for ABBV as it provides
co. w/ near-term top-line growth and diversifies the
business beyond Humira
* Says deal could add 18%-19% to ABBV EPS in 2020-2021
timeframe; increases est. 2014-2020 rev growth from 3% to 7%
& EPS growth from 8% to 11%
* NOTE: Earlier, Abbvie to Buy Pharmacyclics for $261.25/Share
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Allison Connolly in London at +44-20-3525-7043 or
aconnolly4@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net