AbbVie Acquires Apogee Therapeutics for $10.9 Billion to Bolster Immunology and Oncology Portfolios
On September 3, AbbVie (ABBV) completed its acquisition of clinical-stage biotech company Apogee Therapeutics (APGE) in a cash deal valued at $10.9 billion or $135.11 per share. The transaction is expected to integrate Apogee’s inflammatory and immunology pipeline into AbbVie's commercial infrastructure, enhancing the pharma giant’s post-Humira growth strategy. The acquisition coincided with positive Phase 3 results for AbbVie’s bispecific T-cell engager etentamig in treating relapsed/refractory multiple myeloma. This dual development highlights how large pharmaceutical companies are leveraging cash flow from legacy products to invest in next-generation therapies, particularly in immunology and oncology. Financially, AbbVie reported strong Q2 2026 performance with $17 billion in net revenue driven by its top-selling immunology drugs Skyrizi and Rinvoq. However, the company faces ongoing pressure from biosimilar competition affecting Humira and Imbruvica revenues.
Topics: biotech acquisition earnings report immunology pipeline pharmaceuticals