AbbVie to Acquire Apogee Therapeutics in US$10.9 Billion Deal as Immunology Business Continues to Expand

AbbVie has agreed to acquire Apogee Therapeutics in an all-cash transaction valued at approximately US$10.9 billion, offering US$135.11 per share as the pharmaceutical company continues to expand its immunology portfolio.

The acquisition aligns with AbbVie Inc.‘s strategy of strengthening its pipeline in treatments for immune-mediated and inflammatory diseases, an area that has become increasingly important following the decline in sales of its former blockbuster therapy, Humira.

AbbVie’s immunology franchise continued to deliver strong commercial performance in 2025. The company reported approximately US$31 billion in combined revenue from Skyrizi and Rinvoq, reflecting continued growth as the two therapies increasingly offset lower Humira sales.

Among the company’s key products, Skyrizi generated US$17.56 billion in revenue during 2025, reinforcing its position as one of AbbVie’s largest products and a central driver of the company’s immunology business.

AbbVie also reported 12% year-over-year revenue growth, with quarterly revenue reaching US$15 billion, supported primarily by continued demand for its immunology portfolio. For the full year, the company’s immunology business generated US$30.46 billion in revenue, underscoring its position within the global immunology market.

The company also reported US$17.8 billion in free cash flow during the year, compared with approximately US$11.7 billion in dividend payments, highlighting continued cash generation alongside shareholder distributions.

The acquisition adds to AbbVie’s ongoing investment in immunology while complementing the company’s existing portfolio of marketed therapies. Future financial filings are expected to provide additional details on the transaction’s closing timeline, integration progress, and its contribution to AbbVie’s revenue and product portfolio.