ABBV shares soar: $10.9 billion acquisition Apogee deal expands immunology pipeline

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TLDR

Abbwire completes the US$10.9 billion acquisition of Apogee Therapeutics

Zumilokibart strengthens Abbwire's immunology pipeline

After the transaction is completed, AbbVie maintains its 2026 profit forecast

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AbbVie completed its $10.9 billion acquisition of Apogee Therapeutics, further expanding its immunotherapy pipeline. ABBV shares rose as Apogee's key projects targeting dermatitis and asthma joined in. Zumilokibart has become a major new asset in Abbwire's expanding immunology pipeline. Although earnings per share are expected to be diluted in the near term, AbbWay expects the deal to turn into a thickened earnings by 2032. After completing the acquisition of Apogee, AbbWay has not changed its 2026 earnings per share guidance.

ABBV has completed its $10.9 billion acquisition of Apogee Therapeutics, expanding its pipeline to multiple major inflammatory disease markets. ABBV shares closed up 0.67% at $261.72; in pre-market trading, they rose another 0.17% at $262.16. The deal strengthens AbbVie's immunology portfolio and adds several clinical antibody projects with long-term commercial potential. ABBV

ABBV completes $10.9 billion acquisition of Apogee Therapeutics

Based on the completed transaction, AbbWay acquired all outstanding shares of Apogee for a cash price of $135.11 per share. The deal values Apogee's total equity at approximately $10.9 billion and transfers its operations to AbbVie. Apogee's shares stopped trading on Nasdaq before the U.S. market open on September 3, 2026.

The acquisition expands AbbVie's position in immunology and inflammation, two areas at the core of its long-term growth strategy. AbbVie now controls antibody programs against atopic dermatitis, asthma, chronic obstructive pulmonary disease and other inflammatory diseases. The company can also use its R & D, regulatory and commercial infrastructure to advance these projects.

AbbVie continues to build a pipeline beyond existing immunology drugs while pursuing the deal. The company has added potential therapies to multiple treatment categories through acquisitions and internal research. Apogee now offers another set of clinical assets that may support future product launches.

Zumilokibart strengthens the Abbwire immunological pipeline

Zumilokibart is a leading project in the Apogee pipeline, targeting IL-13, which drives Type 2 inflammation. Researchers have linked this pathway to atopic dermatitis, asthma and several other inflammatory diseases.

AbbVie plans to develop the therapy as a potential option that is powerful and less frequent. Phase II testing showed that about two-thirds of patients treated for atopic dermatitis had significant improvement in their skin condition after 16 weeks. The study also documented a reduction in itching and broader disease control during treatment. Long-term results support possible dosing regimens, ranging from quarterly injections to twice annual treatments.

Apogee has also developed APG273, a drug that binds zumilokibart to the experimental antibody APG333. APG333 blocks TSLP, a signaling protein involved in the early inflammatory response in the lungs. Phase I testing showed that relevant inflammatory markers were suppressed for up to six months after dosing.

Abbwire maintains its 2026 earnings forecast after the transaction is completed.

Abbwire expects that the Apogee acquisition will reduce adjusted diluted earnings per share in 2026 by $0.14. The company expects a greater impact in 2027, at approximately $0.46 per share. However, AbbWay expects the deal to start making a positive contribution to earnings in 2032.

Despite these costs, AbbWay maintained its full-year 2026 adjusted diluted earnings per share guidance range. The company expects full-year adjusted diluted earnings per share to be between $13.87 and $14.07. This range already includes the expected dilutive impact of $0.14 per share from the completed Apogee transaction.

AbbWay also maintained its outlook for third quarter adjusted diluted earnings per share of between $3.84 and $3.88. Its annual guidance includes an impact of $0.58 per share on R & D expenses due to acquisitions as of the second quarter. At the same time, the completed Apogee deal gives Abbwire a broader immunology pipeline beyond its existing commercial portfolio.