AbbVie IncAbbVie acquires Apogee for $10.9B, expanding its pipeline with zumilokibart, a potential blockbuster for atopic dermatitis.
AbbVie has agreed to acquire Apogee Therapeutics for $10.9 billion in cash, offering $135.11 per share, a 49% premium to Apogee's Thursday close. Apogee shares jumped 47% on the news, while AbbVie rose 4.92% intraday. The deal, AbbVie's largest in more than half a decade, centers on zumilokibart, Apogee's lead drug for atopic dermatitis, with a phase-three trial expected to start later this year. Zumilokibart is positioned as a longer-acting alternative to Dupixent, the Sanofi and Regeneron drug that generated $17.8 billion in revenue last year. The acquisition is part of a broader wave of pharmaceutical M&A, with more than $200 billion in healthcare acquisitions agreed this year, according to LSEG.
AbbVie IncAbbVie acquires Apogee for $10.9B, expanding its pipeline with zumilokibart, a potential blockbuster for atopic dermatitis.
Apogee Therapeutics, Inc. Common StockApogee to be acquired at $135.11/share, a 49% premium, driving stock up 47%.
Regeneron Pharmaceuticals IncZumilokibart is positioned as a longer-acting alternative to Regeneron's Dupixent, potentially threatening its market share.
Sanofi SAZumilokibart is positioned as a longer-acting alternative to Sanofi's Dupixent, potentially threatening its market share.
Blackstone Group Inc