AbbVie (ABBV) Acquires Apogee for $10.9 Billion in Immunology Deal
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowAbbVie (ABBV) announced its acquisition of Apogee Therapeutics for $10.9 billion, marking its largest buyout in over five years. The $135.11 per share offer represents a 49.49% premium to Apogee's prior closing price, prompting Apogee's shares to surge 48% to $133.77 in premarket trading. The acquisition aims to enhance AbbVie's next-generation immunology pipeline, particularly through the lead drug candidate, zumilokibart. The deal is expected to close in Q3 and contribute positively to AbbVie's adjusted earnings per share by 2032, as pharmaceutical dealmaking accelerates amid patent expirations.
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About AbbVie Inc. (ABBV)
AbbVie is a research-based pharmaceutical company with a portfolio spanning immunology, oncology, and neuroscience.
The Health Care sector covers pharmaceutical, biotech, device and managed-care companies.
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