Quest Diagnostics sells ibrutinib royalty rights for $485 million
USA-based diagnostic services firm Quest Diagnostics (NYSE: DGX) says it has completed the sale of its rights to royalties from commercialization of the drug candidate ibrutinib to Royalty Pharma (recently involved in a failed hostile bid for Irish drugmaker Elan Corp; The Pharma Letters passim), the industry leader in acquiring royalty interests in marketed and late stage biopharmaceutical products, for $485 million in cash.
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