AbbVie Closes $10.9B Takeover of Apogee, Its Largest Deal Since 2019, With Earnings Lift Expected From 2032

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AbbVie (NYSE: ABBV) announced on Thursday that it has finalized its $10.9 billion acquisition of inflammation drug developer Apogee Therapeutics (NASDAQ: APGE). This transaction marks the pharmaceutical giant's largest bolt-on acquisition since 2019.

The company anticipates that the deal will negatively impact its adjusted diluted earnings per share (EPS), with a reduction of $0.14 in 2026 (for a partial year) and approximately $0.46 in 2027. Management projects that the acquisition will begin to contribute accretively to earnings starting in 2032.

AbbVie has reaffirmed its full-year 2026 adjusted diluted EPS guidance, which remains in the range of $13.87 to $14.07 (compared to a consensus estimate of $14.01). This outlook already incorporates the $0.14 per share dilution tied to completing the Apogee acquisition. The EPS projection also reflects a $0.58 per share adverse impact from acquired in-process research and development (IPR&D) and milestone charges incurred year-to-date through the second quarter.

Additionally, the company has reiterated its third-quarter adjusted EPS guidance, holding it between $3.84 and $3.88, against a market consensus of $3.84.

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