Pharmacyclics Inc was incorporated in Delaware in 1991 and commenced operations in 1992. It is a biopharmaceutical company, engaged in developing and commercializing novel therapies for the treatment of cancer and immune-mediated diseases. On November 13, 2013, the U.S. Food and Drug Administration (FDA) approved IMBRUVICA (ibrutinib, PCI-32765) as a monotherapy for the treatment of patients with mantle cell lymphoma (MCL) who have received at least one prior therapy and concurrently on November 13, 2013, the Company commercially launched IMBRUVICATM in the United States. The Company has contracted with a third-party logistics company to warehouse IMBRUVICATM and distribute it to wholesalers, distributors, pharmacies, hospitals, and other drug suppliers that ultimately distribute IMBRUVICATM directly to patients. The Company's competitors include pharmaceutical and biotechnology companies, clinical reference laboratories and government agencies, as well as academic research institutions that are pursuing research activities similar to the company. The FDA and applicable regulatory agencies in state and local jurisdictions and in foreign countries impose substantial requirements upon the clinical development, manufacture and marketing of pharmaceutical products.