AbbVie finalized its $10.9 billion takeover of Apogee Therapeutics on Sept. 3, securing late-stage zumilokibart for atopic dermatitis and the IL-13/TSLP combination APG273 for asthma. The company maintained its 2026 full-year adjusted diluted EPS guidance of $13.87-$14.07 and third-quarter range of $3.84-$3.88.
AbbVie completed its $10.9 billion acquisition of Apogee Therapeutics, adding late-stage immunology assets targeting atopic dermatitis and asthma to its pipeline.
"The acquisition of Apogee further builds on our existing leadership," Robert A. Michael, chairman and chief executive officer of AbbVie, said in a statement. The deal adds what the company described as "highly differentiated clinical-stage assets" in areas of significant patient need.
Under the terms, AbbVie paid $135.11 per share in cash for all outstanding Apogee stock. The deal brings zumilokibart (APG777), a half-life extended anti-IL-13 monoclonal antibody in late-stage development for atopic dermatitis, plus APG273, a long-acting IL-13/TSLP combination for asthma. AbbVie reaffirmed its 2026 full-year adjusted diluted EPS guidance of $13.87-$14.07 and third-quarter guidance of $3.84-$3.88.
The transaction is expected to be accretive to adjusted diluted EPS beginning in 2032. Zumilokibart's Phase 2 trial showed roughly two-thirds of patients achieved significant skin clearance at 16 weeks, with data supporting quarterly or twice-yearly maintenance dosing. Apogee's pipeline also includes APG333, an anti-TSLP antibody that suppressed type 2 inflammatory markers for up to six months after a single dose in Phase 1.
"This transaction reflects the strength of Apogee's vision, our team's dedication and the significant progress we've made advancing zumilokibart and our differentiated pipeline," Michael Henderson, chief executive officer of Apogee, said. Fairmount Funds Management and Venrock Associates entered voting agreements supporting the deal.
The acquisition deepens AbbVie's immunology franchise, which treats more than 1 million patients worldwide across 19 immune-mediated diseases. The company has committed more than $10 billion to U.S. manufacturing this year, including a $175 million drug-delivery device facility in Tempe, Arizona, and a $380 million active pharmaceutical ingredient expansion in North Chicago.
The Apogee deal is AbbVie's largest of 2026 and follows a wave of pharma M&A as large drugmakers seek late-stage assets to replenish pipelines. Eli Lilly has completed 10 acquisitions this year, while Merck and Gilead Sciences have also made multibillion-dollar purchases.
For AbbVie, the near-term focus shifts to advancing zumilokibart through registration trials in atopic dermatitis and initiating late-stage studies for APG273 in asthma. Investors will watch for updated clinical timelines and potential expansion into additional inflammatory indications, including eosinophilic esophagitis and chronic obstructive pulmonary disease.
This article is for informational purposes only and does not constitute investment advice.
