News Article

Listed US-based global biopharmaceutical company AbbVie has agreed to acquire clinical stage biotechnology firm Apogee Therapeutics in an all cash transaction valued at approximately $10.9bn.

This purchase price represents a premium of approximately 49 per cent to the closing price of Apogee shares on June 18, 2026. The transaction, which has been unanimously approved by the boards of both companies, is expected to close in Q3.

The acquisition is a strategic expansion of AbbVie’s dominant immunology portfolio, adding a diverse pipeline of half-life extended monoclonal antibodies.

The primary value driver is zumilokibart, a late-stage antibody for patients suffering from atopic dermatitis and asthma. In clinical trials, zumilokibart demonstrated favourable safety and competitive efficacy, with the potential for highly convenient quarterly or twice yearly maintenance dosing. This offers a major clinical advantage over currently approved biologics that require more frequent administration.

AbbVie develops and commercialises medicines for a wide range of serious and chronic diseases. Its core focus is on immunology, where it treats conditions such as autoimmune and inflammatory disorders, but it also operates in oncology, neuroscience, and specialised areas like aesthetics through its Allergan business. The company generates most of its revenue from prescription drugs and is known for a portfolio of high-value therapies, while also relying on acquiring biotech firms and drug pipelines to sustain long-term growth as older products lose exclusivity.