AbbVie to Acquire Apogee Therapeutics for $10.9 Billion

On June 22, AbbVie announced a cash purchase of Apogee Therapeutics for $10.9 billion, adding the investigational eczema drug zumilokibart to its immunology pipeline. The deal, the largest in AbbVie’s history, will be financed with debt, and the company says the acquisition will not jeopardise its long‑standing dividend‑increase record, citing the 2020 Allergan purchase as a precedent.

Analysts have given Apogee a consensus "Hold" rating, with mixed opinions ranging from sell to strong‑buy. The average 12‑month price target sits around $130, while recent trading shows the stock near $134. Apogee has a market cap of about $8.3 billion and reported a slight earnings beat for the latest quarter.