AbbVie to Buy Apogee Therapeutics for $10.9 Billion

Summary

Bloomberg Intelligence analyst Sam Fazeli discusses AbbVie's $10.9 billion acquisition of Apogee Therapeutics, which adds an eczema treatment with a convenient every-3-to-6-month dosing schedule to AbbVie's immunology portfolio. He highlights AbbVie's existing blockbusters Skyrizi and Rinvoq, forecast to generate $50-60 billion in revenue, and notes the deal strengthens AbbVie's position against Sanofi's Dupixent. Sanofi also faces headwinds from an R&D leadership change.

• AbbVie acquires Apogee Therapeutics for $10.9 billion.
• Apogee's drug targets atopic dermatitis (eczema) with dosing every 3-6 months, improving convenience.
• The acquired drug is pre-Phase 3 and expected to contribute post-2030.
• AbbVie's Skyrizi and Rinvoq are forecast by analysts to reach $50-60 billion in revenue.
• Deal enhances AbbVie's competitive standing against Sanofi's Dupixent.
• Sanofi concurrently announced a change in its R&D leadership, adding pressure on its shares.