AbbVie Completes $10.9 Bln Acquisition Of Apogee Therapeutics
(RTTNews) - AbbVie Inc. (ABBV) announced the completion of its acquisition of Apogee Therapeutics, Inc. (APGE), strengthening AbbVie's immunology pipeline with therapies targeting dermatologic, respiratory and other inflammatory and immunological diseases.
Under the terms of the agreement, Apogee shareholders received $135.11 per share in cash, representing a total equity value of approximately $10.9 billion.
Apogee is now part of AbbVie, and its common stock ceased trading on Nasdaq prior to market open on September 3, 2026.
Apogee Pipeline
Apogee's lead asset, zumilokibart, is a late-stage, half-life-extended monoclonal antibody targeting interleukin-13 (IL-13) and is being developed for patients with atopic dermatitis.
In a Phase 2 study, approximately two-thirds of treated patients achieved significant skin clearance at 16 weeks, alongside improvements in itch reduction and overall disease control.
Longer-term data from the study support potential maintenance dosing every three months or twice yearly.
Zumilokibart also has potential applications across additional inflammatory diseases.
Apogee's pipeline also includes APG273, a potential long-acting combination of zumilokibart and APG333, an antibody targeting thymic stromal lymphopoietin (TSLP), for asthma.
Phase 1 data showed that APG333 has a long half-life and can suppress relevant type 2 inflammatory markers for up to six months after dosing.
Financial Terms
AbbVie expects the acquisition to reduce adjusted diluted earnings per share by $0.14 in 2026 and approximately $0.46 in 2027, with the transaction expected to become accretive beginning in 2032.
AbbVie reaffirmed its 2026 full-year adjusted diluted EPS guidance of $13.87 to $14.07, including a $0.14 per-share dilutive impact from the Apogee acquisition. AbbVie's adjusted diluted EPS was $10.00 in 2025.
The company reaffirmed its third-quarter 2026 adjusted diluted EPS guidance of $3.84 to $3.88, compared with adjusted diluted EPS of $1.86 in the third quarter 2025.
Immunology Strategy
The acquisition expands AbbVie's immunology portfolio with novel antibodies targeting validated inflammatory pathways in conditions including atopic dermatitis, asthma and chronic obstructive pulmonary disease.
AbbVie said the combination of Apogee's research capabilities with its development, regulatory and commercial expertise is expected to accelerate the development of Apogee's pipeline and support the expansion of treatment options for patients with inflammatory and immunological diseases.
ABBV has traded between $190.75 and $267.47 over the last year. The stock closed Wednesday's trade at $261.72, up 0.67%. In the pre-market, ABBV is up 0.43 at $262.83.
APGE has traded between $35.39 and $135.09 over the last year. The stock closed Wednesday's trade at $135.07, down 0.01%.
