AbbVie to buys Apogee in $10.9 billion deal
- AbbVie (NYSE:ABBV) agreed to acquire Apogee Therapeutics (NASDAQ:APGE) for $135.11 per share in an all-cash transaction.
- Following the announcement, the AbbVie share price moved down to $217.79 during market operations.
- The company stated that the transaction aims to expand its immunology portfolio with late-stage assets for long-term growth.
AbbVie (NYSE:ABBV) executed an agreement to acquire Apogee Therapeutics (NASDAQ:APGE) for $135.11 per share in cash, totaling approximately $10.9 billion.
The cash purchase price represents an approximate 60% premium over the standalone closing price of the acquired biotech firm.
The transaction adds late-stage immunology assets such as the lead antibody zumilokibart for atopic dermatitis and APG273 for asthma.
The companies stated that the transaction is expected to close in the third quarter of 2026.
According to the announcement, the acquisition is expected to be accretive to adjusted diluted earnings per share beginning in 2032.
The purchasing corporation has continually expanded its innovative biologics portfolio to drive future long-term growth.
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