AbbVie To Acquire Immunology Drug Maker Apogee For $10.9 Bln Cash; Shares Climb

(RTTNews) - Biopharmaceutical company AbbVie, Inc. announced Monday an agreement to acquire inflammatory and immunological drug maker Apogee Therapeutics for $135.11 per share in cash, for a total equity value of around $10.9 billion.

Following the news, AbbVie shares are gaining 4 percent, while Apogee shares are surging around 47 percent.

The proposed transaction is expected to be accretive to AbbVie's adjusted earnings per share, starting 2032. The deal is set to close in the third quarter of 2026, subject to customary closing conditions, including receipt of regulatory approvals and approval by Apogee shareholders.

Under the deal, the company will acquire Apogee's diverse pipeline of multiple clinical-stage candidates in development across inflammatory and immunological diseases, including atopic dermatitis and asthma.

The acquisition adds to AbbVie's existing immunology portfolio and accelerates its linical presence in the respiratory space.

The transaction is expected to strengthen AbbVie's ability to deliver innovative medicines to patients who need better options, advance Apogee's pipeline of highly differentiated clinical-stage assets, and transform the standard of care in inflammatory diseases.

According to AbbVie, the acquisition holds mega-blockbuster peak sales potential across Apogee's pipeline of assets. These include its lead asset, zumilokibart (APG777), a subcutaneous half-life extended monoclonal antibody targeting IL-13, being developed in AD, and APG273, a combination of zumilokibart and APG333, an anti-TSLP half-life extended monoclonal antibody, being developed in asthma.

Zumilokibart targets IL-13, a critical cytokine in type 2 inflammation, and a central driver of inflammatory diseases like AD and asthma.

Apogee also holds a broader pipeline of novel antibodies targeting multiple validated inflammatory pathways. APG273 combines zumilokibart with APG333, an antibody that blocks TSLP, a signaling protein that acts as an early trigger of inflammation in the lungs.

Robert Michael, chairman and chief executive officer, AbbVie, stated, "Apogee's pipeline adds highly differentiated clinical-stage assets, further expanding our robust immunology portfolio in areas of significant patient need, including atopic dermatitis and asthma. With our deep scientific expertise and proven capabilities, we are uniquely positioned to rapidly advance these programs and continue to transform the standard of care in inflammatory diseases."

AbbVie noted that Fairmount Funds Management LLC and Venrock Associates have entered into voting agreements in support of the transaction.

In the deal, AbbVie's financial advisor is Morgan Stanley & Co. LLC, while Apogee's financial advisors are Jefferies LLC and Goldman Sachs & Co. LLC.

On the New York Stock Exchange, ABBV is trading at $225.99, up 4.34 percent. Meanwhile, APGE is surging 46.81 percent, to $132.69 on the Nasdaq.