AbbVie is acquiring Apogee Therapeutics for nearly $11 billion, the companies announced. The deal centers on zumilokibart, an experimental treatment for atopic dermatitis, a chronic skin condition.
The transaction underscores AbbVie's push to strengthen its immunology pipeline. Apogee's candidate targets a mechanism with potential beyond eczema, though it remains in clinical development without approved products.
Financial terms value Apogee at roughly $11 billion, according to the announcement. The per-share price represents a significant premium over Apogee's recent trading levels, reflecting competitive bidding in the biotech space.
The acquisition is expected to close in the second half of 2026, subject to regulatory approvals and Apogee shareholder vote. AbbVie said it plans to fund the deal through a combination of cash and debt.
Some analysts caution that zumilokibart faces stiff competition from established therapies like Sanofi's Dupixent, and clinical trial risks remain for the unapproved asset.