AbbVie said Sept. 3 that it completed its acquisition of Apogee Therapeutics, paying $135.11 per share in cash and valuing the deal at about $10.9 billion.
With the transaction closed, Apogee’s lead drug, zumilokibart, and its broader immunology pipeline now sit inside AbbVie. The company said Apogee’s assets target inflammatory and immunological diseases including atopic dermatitis, asthma and chronic obstructive pulmonary disease.
AbbVie said the deal will reduce adjusted diluted earnings per share by $0.14 in 2026, reflecting a partial year of ownership, and by about $0.46 in 2027. It said the acquisition becomes accretive in 2032.
The company also reaffirmed its 2026 adjusted diluted EPS guidance of $13.87 to $14.07, unchanged from prior guidance. That range already includes the $0.14 per share dilution from the Apogee deal. AbbVie also reiterated its third-quarter adjusted diluted EPS outlook of $3.84 to $3.88.
Apogee’s lead asset, zumilokibart, is in late-stage development for atopic dermatitis. AbbVie said phase 2 data showed about two-thirds of patients achieved significant skin clearance at 16 weeks, along with improvements in itch reduction and disease control. The company said longer-term data support dosing either quarterly or twice a year.
AbbVie also highlighted APG273, a combination of zumilokibart and APG333, which targets TSLP and is being developed for asthma. Phase 1 data on APG333 showed a long half-life and suppression of inflammatory markers for up to six months after dosing, while interim phase 1b results for zumilokibart in asthma supported the combination’s potential for quarterly or twice-yearly injections. The market has reacted to these announcements by moving the company's shares -0.76% to a price of $259.72. If you want to know more, read the company's complete 8-K report here.
