AbbVie will acquire Apogee Therapeutics for $10.9 billion, with analyst citing long-term immunology growth despite near-term dilution.
On Monday, biopharmaceutical giant AbbVie Inc. (NYSE:ABBV) agreed to acquire Apogee Therapeutics Inc. (NASDAQ:APGE) in a cash deal valued at approximately $10.9 billion.
The deal comes as the largest after AbbVie acquired Botox maker Allergan for a massive $63 billion.
In 2023, AbbVie acquired cancer drug-focused ImmunoGen for $10.1 billion, and Cerevel Therapeutics (neurological diseases) for approximately $8.7 billion.
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