India, June 22 -- Biopharmaceutical company AbbVie, Inc. announced Monday an agreement to acquire inflammatory and immunological drug maker Apogee Therapeutics for $135.11 per share in cash, for a total equity value of around $10.9 billion.
Following the news, AbbVie shares were gaining 4 percent, while Apogee shares are surging around 47 percent.
The proposed transaction is expected to be accretive to AbbVie's adjusted earnings per share, starting 2032. The deal is set to close in the third quarter of 2026, subject to customary closing conditions, including receipt of regulatory approvals and approval by Apogee shareholders.
Under the deal, the company will acquire Apogee's diverse pipeline of multiple clinical-stage candidates in devel...