AbbVie strikes $10.9 billion deal for Apogee Therapeutics


June 22 (Reuters) – AbbVie said on Monday ‌it would buy ‌biotech Apogee Therapeutics for $10.9 ​billion in cash, as the U.S. drugmaker builds its ‌next-generation immunology ⁠pipeline.

AbbVie has offered $135.11 per Apogee ⁠share held, which implies a 49.49% ​premium to ​Thursday’s ​close. Shares ‌of Apogee were at $136.3 in premarket trading.

The deal gives AbbVie access to Apogee’s ‌lead drug ​candidate, zumilokibart, ​an ​experimental treatment ‌targeting a range of ​inflammatory ​diseases, including moderate-to-severe atopic dermatitis and asthma.

(Reporting ​by ‌Padmanabhan Ananthan in ​Bengaluru; Editing by ​Sriraj Kalluvila)



Source link

  • Related Posts

    Summer sales events kick off as inflation squeezes consumers

    Summer’s biggest sales are starting, with major weeklong deals from retailers such as Amazon, Best Buy, Target and Walmart officially launching as early as Monday. Subscribe to read this story…

    How the World Cup is redrawing Vancouver’s retail map

    FIFA tournament is upending what shoppers buy and where they spend Source link

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Growing U.S. inequality is worsening Social Security’s financial crunch, group says

    Growing U.S. inequality is worsening Social Security’s financial crunch, group says

    Summer sales events kick off as inflation squeezes consumers

    Summer sales events kick off as inflation squeezes consumers

    America’s allies look to declare independence from the US

    The Curator: Amazon storage finds that make organizing your home easier – National

    The Curator: Amazon storage finds that make organizing your home easier – National

    Prime Minister Carney announces the nomination of the Honourable Glenn D. Joyal to the Supreme Court of Canada

    Prime Minister Carney announces the nomination of the Honourable Glenn D. Joyal to the Supreme Court of Canada

    How the World Cup is redrawing Vancouver’s retail map

    How the World Cup is redrawing Vancouver’s retail map