AbbVie has completed its $10.9 billion acquisition of Apogee Therapeutics, expanding its immunology pipeline with programs targeting dermatologic, respiratory and other inflammatory diseases.
Under the agreement, Apogee shareholders received $135.11 per share in cash, and Apogee is now part of AbbVie.
Apogee’s lead program is zumilokibart, a late-stage, half-life extended monoclonal antibody targeting IL-13 that is being developed for atopic dermatitis.
The company’s pipeline also includes APG273, a long-acting combination targeting IL-13 and thymic stromal lymphopoietin, or TSLP, for asthma.
In a Phase 2 trial, approximately two-thirds of patients receiving zumilokibart achieved significant skin clearance at 16 weeks, alongside improvements in itch reduction and overall disease control.
Longer-term data support potential maintenance dosing either quarterly or twice annually.
APG273 combines zumilokibart with APG333, an antibody targeting TSLP. Phase 1 data for APG333 showed suppression of relevant type 2 inflammatory markers for as long as six months after dosing.
AbbVie expects the acquisition to reduce adjusted diluted EPS by approximately $0.14 in 2026 and $0.46 in 2027, with the transaction expected to become accretive beginning in 2032.
The company reaffirmed its 2026 adjusted diluted EPS guidance of $13.87 to $14.07 and third-quarter guidance of $3.84 to $3.88.
KEY QUOTE:
“The completion of the Apogee acquisition is an important step in further strengthening AbbVie’s leadership in immunology and advancing our long-term growth strategy. By combining Apogee’s innovative science with AbbVie’s proven development, regulatory and commercial capabilities, we aim to accelerate these programs and bring promising new treatment options to patients living with serious inflammatory and immunological diseases. We are excited to welcome the talented Apogee team to AbbVie and build on their important work.”
Robert A. Michael, Chairman and Chief Executive Officer of AbbVie
