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Why AbbVie Is Spending $11 Billion to Buy Apogee Therapeutics—and Why the Stock Is Rising

AbbVie has agreed to buy Waltham-based biotech Apogee Therapeutics in a cash transaction. The deal aims to expand AbbVie's immunology portfolio with long-acting drug candidates. This represents the company's largest buyout in over five years.

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What changed

AbbVie announced the acquisition of Apogee Therapeutics to strengthen its inflammatory and immunological pipeline.

Live updates

  1. AbbVie to Acquire Apogee Therapeutics for $10.9 Billion

    AbbVie has agreed to buy Waltham-based biotech Apogee Therapeutics in a cash transaction. The deal aims to expand AbbVie's immunology portfolio with long-acting drug candidates. This represents the company's largest buyout in over five years.

    What's confirmed:

    • AbbVie is acquiring Apogee Therapeutics for $10.9 billion.
    • The acquisition is a cash deal.
    • The deal focuses on Apogee's long-acting immunology and inflammation drug candidates.
    • This is the largest buyout AbbVie has made in more than five years.
    • Apogee is based in Waltham.

    Still unconfirmed:

    • The acquisition price represents a 49% premium.
    • Apogee's lead drug candidate has shown promising results in atopic dermatitis.
    • The deal sparked a 46% rally in Apogee stock.
    confidence 95%