Why dominant pharmaceutical firms are paying billion-dollar premiums for immunology assets
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- AbbVie agreed to acquire Apogee Therapeutics in a $10.9 billion all-cash transaction, paying a 60% premium to secure a late-stage immunology pipeline.
- The company will pay $135.11 per share, with executives projecting the deal will not become accretive to adjusted earnings until 2032.
- Large pharmaceutical manufacturers face intense capital pressure to acquire unproven, long-acting biologics to offset impending revenue losses from patent expirations.
