AbbVie IncAcquisition of Apogee Therapeutics and expanded approvals for Skyrizi and Rinvoq drive stock surge.
AbbVie shares surged nearly 11% in the past week, adding roughly $43 billion in market value, driven by multiple positive developments. The rally began after the company announced its $10.9 billion acquisition of clinical-stage biotech Apogee Therapeutics, a move aimed at strengthening its immunology franchise and easing concerns about growth once Skyrizi and Rinvoq mature. AbbVie also secured U.S. and European approvals to expand Skyrizi's label for pediatric plaque psoriasis, and a European Medicines Agency advisory committee recommended approving Rinvoq for alopecia areata and vitiligo. Beyond immunology, the company's neuroscience franchise is expanding, with Parkinson's therapy Vyalev expected to surpass $1 billion in annual global sales, while its oncology portfolio was bolstered by the recent approval of Decnupaz for a rare blood cancer.
AbbVie IncAcquisition of Apogee Therapeutics and expanded approvals for Skyrizi and Rinvoq drive stock surge.
Apogee Therapeutics, Inc. Common StockAcquired by AbbVie at a premium, boosting Apogee's valuation.
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