AbbVie finalized its acquisition of Apogee Therapeutics on September 3, 2026, paying $135.11 in cash per share. AbbVie’s latest description values the transaction at $11 billion, compared with the previously reported approximately $10.9 billion in total equity value. Apogee shares ceased public trading after the deal closed, ending the biotech’s independent operations. The acquisition expands AbbVie’s pipeline across immunology, oncology, neuroscience and aesthetics, with Apogee’s leading programs focused on atopic dermatitis, asthma, chronic obstructive pulmonary disease and other immune-mediated inflammatory conditions. Apogee’s most advanced asset, zumilokibart, is a long-acting monoclonal antibody that selectively inhibits IL-13, a cytokine involved in type 2 inflammation. Phase 2 testing found that approximately two-thirds of atopic dermatitis patients achieved skin clearance by week 16, with further improvements in itching and overall symptom management. Follow-up data supported dosing every three months or twice annually. The deal also includes APG273, which combines zumilokibart with APG333, a TSLP antagonist. Phase 1 data showed APG333 suppressed inflammatory biomarkers for up to six months after one administration, while preliminary Phase 1b asthma results supported the dual-target approach. AbbVie expects the transaction to reduce adjusted diluted EPS by $0.14 in 2026 and about $0.46 in 2027, with a positive earnings contribution not anticipated before 2032. The company maintained its 2026 adjusted diluted EPS forecast at $13.87 to $14.07 and its third-quarter outlook at $3.84 to $3.88. AbbVie’s second-quarter results beat expectations. Its 2026 forecast includes $0.58 per share in negative acquired in-process research and development and milestone charges recognized through the second quarter; later charges are excluded because of forecasting uncertainty.