AbbVie to Buy Apogee Therapeutics for $10.9 Billion in Cash
By Colin Kellaher
AbbVie has agreed to buy Apogee Therapeutics for about $10.9 billion in cash in a deal that bolsters the biopharmaceutical company's immunology and inflammation portfolio.
AbbVie on Monday said it would pay $135.11 a share in cash, a 49% premium to Thursday's closing price of $90.38 for the Waltham, Mass., clinical-stage biotechnology company.
Shares of Apogee were up nearly 52% to $136.96 in premarket action before trading was halted on Monday after the Financial Times reported on Friday that AbbVie was nearing a deal to buy the company.
For AbbVie, the deal would add Apogee's experimental drug zumilokibart, which is entering Phase 3 studies late this year, as a potential rival to Dupixent from Regeneron Pharmaceuticals and Sanofi as a treatment for moderate to severe atopic dermatitis, the most common form of eczema.
AbbVie's blockbuster drug Rinvoq is approved for use in several autoimmune diseases, including eczema. The North Chicago, Ill., company has said it expects combined revenue from Rinvoq and fellow autoimmune drug Skyrizi will top $31 billion this year.
The deal is slated to close in the third quarter.
Write to Colin Kellaher at colin.kellaher@wsj.com
Corrections & Amplifications
This article was corrected at 8:39 a.m. ET because the original version incorrectly said zumilokibart is currently in Phase 3 studies. It enters phase 3 studies late this year.
(END) Dow Jones Newswires
June 22, 2026 07:36 ET (11:36 GMT)
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