AbbVie Acquires Apogee Therapeutics for $10.9 Billion in Cash

AbbVie Inc. (ABBV) entered a merger agreement on June 22, 2026, to acquire Apogee Therapeutics, Inc. (APGE), in a deal valued at $10.9 billion.

Deal Structure:

AbbVie will acquire all outstanding shares of Apogee for $135.11 per share in cash, representing a 49.49% premium from the stock’s last close.

Company Profile:

Apogee Therapeutics is a clinical-stage biotechnology company focused on developing biologic therapies for inflammatory and immunological diseases, including atopic dermatitis, asthma, COPD, and eosinophilic esophagitis. Its pipeline consists of antibody-based drug candidates targeting these conditions.

AbbVie is a biopharmaceutical company that develops and markets prescription medicines across therapeutic areas, including immunology, oncology, neuroscience, aesthetics, and eye care. The company commercializes treatments for autoimmune diseases, cancer, neurological disorders, and other chronic medical conditions.

Deal Details and Timeline:

Late last week, the Financial Times reported that AbbVie was nearing a deal to acquire Apogee. The stock was trading at $88.43 when it was revealed that the deal could value Apogee at a roughly 60% premium, for about $10.9 billion in cash.

AbbVie will acquire Apogee’s pipeline of clinical-stage drug candidates for inflammatory and immune-related diseases, including atopic dermatitis and asthma. The acquisition expands AbbVie’s immunology portfolio and strengthens its presence in respiratory disease treatments.

The merger is expected to close in the third quarter of 2026.

Key assets include zumilokibart (APG777), an IL-13-targeting monoclonal antibody being developed for atopic dermatitis, and APG273, a combination of APG777 and APG333 that is being developed for asthma.

Fairmount Funds Management and Venrock Associates have agreed to vote their shares in favor of the transaction.

The deal is expected to increase AbbVie’s adjusted diluted earnings per share (EPS) starting in 2032.

Jefferies and Goldman Sachs are acting as financial advisors to Apogee, while Kirkland & Ellis is serving as its legal advisor. Morgan Stanley is acting as financial advisor to AbbVie, with Paul, Weiss, Rifkind, Wharton & Garrison serving as its legal counsel.

Deal Metrics:

For a more comprehensive understanding of this merger and acquisition transaction, visit the Deal Metrics page here:

Deal Metrics for the acquisition of Apogee Therapeutics, Inc. (APGE) by AbbVie Inc. (ABBV)

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• A spread history chart depicting the merger’s progression from announcement to completion or failure.
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• A history of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article