AbbVie agreed to acquire Apogee Therapeutics for a total equity value of approximately $10.9 billion, translating to $135.11 per share in cash, which reflects a substantial premium over prior trading levels. This high valuation reflects AbbVie's aggressive strategic push to bolster its world-class immunology portfolio, secure promising clinical assets like zumilokibart for atopic dermatitis and asthma, and counter impending generic patent expirations for legacy blockbusters.