AbbVie Completes Acquisition of Apogee Therapeutics Strengthening Immunology Portfolio

North Chicago, Ill., AbbVie (NYSE: ABBV) has completed its acquisition of Apogee Therapeutics, Inc. (NASDAQ: APGE), a move that strengthens AbbVie's position in the immunology space and aligns with its long-term growth strategy. Under the terms of the deal, Apogee shareholders received $135.11 per share in cash, totaling approximately $10.9 billion in equity value.

"Today marks an important step in our strategy to deepen AbbVie's leadership in immunology," said Robert A. Michael, chairman and CEO of AbbVie. "By integrating Apogee's innovative science with our robust development, regulatory, and commercial capabilities, we aim to accelerate the advancement of these promising programs and bring new treatment options to patients with serious inflammatory and immunological diseases."

Apogee's pipeline includes several novel antibodies targeting key inflammatory pathways. The company's lead asset, zumilokibart, is a late-stage, half-life extended monoclonal antibody designed to target IL-13, a critical cytokine in type 2 inflammation. Currently in development for atopic dermatitis (AD), zumilokibart has shown significant clinical benefits. In a Phase 2 trial, approximately two-thirds of patients achieved substantial skin clearance and itch reduction at 16 weeks. Longer-term data support maintenance dosing every three months or biannually, making the treatment more convenient for patients.

Beyond zumilokibart, Apogee has developed APG273, a potential best-in-class long-acting combination targeting IL-13 and thymic stromal lymphopoietin (TSLP). APG273 combines zumilokibart with APG333, an antibody that blocks TSLP, a protein that triggers inflammation in the lungs. Phase 1 data indicate that APG333 has a long half-life, suppressing relevant type 2 inflammatory markers for up to six months post-dosing. Positive interim results from a Phase 1b trial of zumilokibart in asthma support the potential of the APG273 combination, which could be dosed quarterly or twice a year.

AbbVie reaffirmed its 2026 full-year adjusted diluted EPS guidance of $13.87 to $14.07, incorporating a $0.14 per share dilutive impact from the Apogee acquisition. Third-quarter adjusted diluted EPS guidance remains at $3.84 to $3.88, excluding any impact from acquired in-process research and development and milestones.

The acquisition is expected to negatively impact AbbVie's adjusted diluted earnings per share by $0.14 in 2026 and $0.46 in 2027, with accretion beginning in 2032.

"AbbVie is committed to advancing the standard of care for patients with immune-mediated conditions," said Michael. "We are excited to welcome Apogee's talented team and look forward to building on their significant contributions."

Forward-looking statements in this release include guidance on earnings and the anticipated benefits of the acquisition. AbbVie cautions that these statements are subject to risks and uncertainties that could cause actual results to differ, including integration challenges, clinical trial outcomes, and regulatory hurdles.