AbbVie $ABBV buys Apogee $APGE for $10.9B at $135.11/share

$10.9B is the number behind AbbVie's next immunology bet. AbbVie and Apogee said on June 22 that AbbVie will acquire all outstanding Apogee Therapeutics common stock for $135.11 a share in cash, with both boards unanimously approving the transaction.

The asset at the center of the deal is zumilokibart, also known as APG777, a late-stage half-life extended monoclonal antibody targeting IL-13 for atopic dermatitis. AbbVie also highlighted APG273, a combination program targeting IL-13 and TSLP for asthma. The release says the transaction gives AbbVie a broader clinical-stage pipeline across dermatologic, respiratory and related inflammatory diseases.

The closing target is Q3 2026, subject to Apogee shareholder approval, regulatory approvals and customary conditions. Fairmount Funds Management LLC and Venrock Associates entered voting agreements supporting the deal. AbbVie said the acquisition is expected to become accretive to adjusted diluted EPS beginning in 2032, which places the financial contribution outside the near-term earnings window.

For investors, the stake is portfolio duration. AbbVie is using cash to add late-stage immunology programs as its post-Humira mix depends more on newer products and pipeline depth. The next items to watch are Apogee's proxy materials, regulatory review milestones and any update from AbbVie's investor call materials referenced in the announcement.

Not investment advice. Verify all figures with primary sources before acting.