AbbVie Completes $10.9B Acquisition of Apogee Therapeutics

AbbVie Inc. (NYSE: ABBV) Completes Acquisition of Apogee Therapeutics, Inc.

Transaction Overview

• Acquisition Target: Apogee Therapeutics, Inc. (NASDAQ: APGE)
• Transaction Consideration: $135.11 per share in cash, representing an equity value of approximately $10.9 billion.
• Closing Status: Completed on September 3, 2026; Apogee's common stock ceased trading prior to market open.

Strategic Rationale & Pipeline Assets

• Lead Asset – Zumilokibart (APG777): A half-life extended monoclonal antibody targeting IL-13 in late-stage development for atopic dermatitis (AD), supporting quarterly or twice-yearly maintenance dosing.
• APG273: A combination therapy targeting IL-13 and thymic stromal lymphopoietin (TSLP) in clinical development for asthma.
• Broad Pipeline: Expands and deepens AbbVie's core immunology franchise into large dermatologic, respiratory, and inflammatory disease markets.

Financial Guidance & Earnings Impact

• Dilution & Accretion: Expected adjusted diluted EPS dilution of $0.14 in 2026 (partial year) and ~$0.46 in 2027; accretion anticipated starting in 2032.
• FY 2026 Outlook: Reaffirmed full-year adjusted diluted EPS guidance range of $13.87 to $14.07 (which incorporates the $0.14 dilution from the acquisition).
• Q3 2026 Outlook: Reaffirmed third-quarter adjusted diluted EPS guidance range of $3.84 to $3.88.