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Pharmaceuticals
Quest Diagnostics Sells Drug Royalties
by Ann M. Thayer
July 29, 2013
| A version of this story appeared in
Volume 91, Issue 30
Quest Diagnostics has sold the rights to royalties on future sales of the anticancer drug candidate ibrutinib to Royalty Pharma for $485 million. Quest got rights to royalties on several drug candidates via its 2011 purchase of Celera. Ibrutinib development partners Johnson & Johnson and Pharmacyclics have filed for approval of the compound, which FDA has designated a breakthrough therapy. Since November 2012, Quest has been refocusing on its core diagnostics business. It earlier sold a dental diagnostics company, OralDNA, and a point-of-care testing firm, HemoCue.
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