AbbVie Nears $10.9 Billion Apogee Deal at 60% Premium
Updated
Updated · Reuters · Jun 19
AbbVie Nears $10.9 Billion Apogee Deal at 60% Premium
3 articles · Updated · Reuters · Jun 19
Summary
$10.9 billion in cash is the price AbbVie is discussing to buy Apogee Therapeutics, with a deal potentially announced as early as Monday if talks avoid last-minute snags.
A roughly 60% premium to Apogee's Thursday close underscores AbbVie's push to add inflammatory and immune-disease drugs, including Apogee's lead eczema treatment.
Apogee, founded in 2022, last month secured up to $1.3 billion from Blackstone Life Sciences to fund late-stage development and possible commercialization of that drug.
The talks would further expand AbbVie's pipeline after it recently won FDA approval for pivekimab sunirine-pvzy, a treatment for a rare blood cancer.