AbbVie Buys Apogee Therapeutics for $10.9 ​Billion

AbbVie announced that it will acquire Apogee Therapeutics for $10.9 billion in cash, expanding its portfolio of treatments for immune-related diseases.

The deal gives AbbVie access to Apogee's lead drug candidate, zumilokibart, an experimental therapy being developed to treat a range of inflammatory conditions, including moderate-to-severe atopic dermatitis and asthma.

AbbVie is a global biopharmaceutical company best known for developing medicines in immunology, oncology, neuroscience, and aesthetics. Its blockbuster drugs include Humira, Skyrizi, and Rinvoq, as well as aesthetic products such as Botox.