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Pharmacyclics and Servier bid adieu

|About: Pharmacyclics, Inc. (PCYC)|By: , SA News Editor

Pharmacyclics (PCYC -2.6%) and Les Laboratoires Servier and Institut de Recherches Internationales Servier (collectively, "Servier") mutually agree to end their collaboration on the ex-U.S. development of Pharmacyclics' pan-HDAC inhibitors, including abexinostat, thereby returning all development and commercialization rights to the company.

The termination will be effective on November 23, 2014. A provision in the agreement allowed Servier to terminate upon 60 days notice without requiring it to pay an early termination penalty.