AbbVie to buy Apogee Therapeutics for about $10.9 billion
AbbVie agreed to acquire Apogee Therapeutics for about $10.9 billion, or $135.11 per share, STAT reported on June 22 . The price represents roughly a 50 percent premium to Apogee’s prior close.
Apogee develops treatments for inflammatory diseases, and its lead candidate, zumilokibart, targets the cytokine IL-13 implicated in conditions such as atopic dermatitis and asthma. The drug is engineered for infrequent dosing — potentially as few as two to four injections a year after an initial course — which AbbVie is betting could differentiate it in the crowded immunology market where it already sells the blockbusters Skyrizi and Rinvoq.
The purchase is the latest in a wave of large pharmaceutical acquisitions of biotechs in 2026, as established drugmakers facing looming patent expirations move to refill their pipelines. It lands the same day other deals and reporting pointed to a year-to-date M&A total well above $120 billion.