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Apogee Therapeutics: AbbVie moves to expand its immunology pipeline with a major buyout targeting promising treatments for atopic dermatitis and asthma.
AbbVie Inc. (NYSE: ABBV) has announced plans to acquire Apogee Therapeutics (NASDAQ: APGE) in an all-cash deal worth approximately $10.9 billion.
The acquisition will add a portfolio of clinical-stage therapies focused on inflammatory and immunological diseases to AbbVie's existing portfolio.
Under the terms of the agreement, AbbVie will purchase all outstanding Apogee shares at $135.11 per share in cash. The boards of both companies unanimously approved the deal.
It is expected to close in the third quarter of 2026, pending regulatory clearances and Apogee shareholder approval.
A Strategic Boost for AbbVie's Immunology Portfolio
The deal brings several late-stage drug candidates into AbbVie's pipeline.
Apogee's lead therapy, zumilokibart (APG777), is a half-life extended monoclonal antibody designed to target interleukin-13 (IL-13). It is currently in development for atopic dermatitis.
Phase 2 trial results showed that approximately two-thirds of patients who received the treatment achieved significant skin clearance within 16 weeks.
Participants also reported improvements in itch reduction and overall disease control.
Extended data further supported the potential for quarterly or twice-yearly maintenance dosing, which could offer a meaningful convenience advantage for patients.
Combination Therapy in the Pipeline for Asthma
Apogee is also developing APG273, a combination therapy that pairs zumilokibart with APG333, an anti-TSLP antibody, targeting asthma patients.
Phase 1 data showed that APG333 sustained suppression of type 2 inflammatory markers for up to six months following a single dose.
AbbVie stated that the acquisition is a natural complement to its existing immunology business and is expected to strengthen the company's foothold in respiratory disease treatment.
Market Reaction and Financial Outlook
AbbVie shares rose 4.5% to $226 following the announcement. Apogee stock surged roughly 47%, reaching approximately $133 per share.
On the financial side, AbbVie indicated the deal is expected to become accretive to adjusted diluted earnings per share starting in 2032.
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