AbbVie announced on June 22, 2026, its intention to acquire Apogee Therapeutics for approximately $10.9 billion in an all-cash deal. This acquisition marks AbbVie's largest in over five years and is strategically aimed at strengthening the drug giant's anti-inflammatory and next-generation immunology portfolio. The deal values Apogee at $135.11 per share, representing a premium of roughly 60% over Apogee's closing price of $90.38 on June 18, before news of the potential acquisition emerged. Apogee's shares consequently surged about 48% to $133.77 in premarket trading on the day of the announcement.
The centerpiece of this acquisition is Apogee's lead drug candidate, zumilokibart (APG777), a late-stage, half-life extended monoclonal antibody targeting IL-13. This experimental treatment is in development for a range of inflammatory diseases, including moderate-to-severe atopic dermatitis and asthma. If approved, zumilokibart is expected to fortify AbbVie's existing immunology portfolio and could offer a more convenient treatment option compared to existing therapies like Sanofi and Regeneron's Dupixent. Zumilokibart is being studied as a subcutaneous injection given once every three or six months, a significant reduction in dosing frequency compared to Dupixent's bi-weekly administration.
Beyond zumilokibart, the acquisition also includes Apogee's broader pipeline, which features APG273, a potential long-acting combination targeting IL-13 and thymic stromal lymphopoietin (TSLP) for asthma. The deal underscores a broader trend of increased pharmaceutical dealmaking as companies look to build their portfolios in anticipation of looming patent expirations on blockbuster treatments. AbbVie expects the transaction to close in the third quarter of 2026, subject to customary closing conditions, including regulatory and shareholder approvals, and anticipates the deal to be accretive to its adjusted earnings per share in 2032.
