Pharmaceutical giant AbbVie (NYSE: ABBV) made a bold move this past Monday when it announced its planned $10.9 billion acquisition of Apogee Therapeutics (NASDAQ: APGE).
The deal would bring a promising immunology drug, zumilokibart, into AbbVie's pipeline. This is a drug that many see as competing with Dupixent from Regeneron Pharmaceuticals (NASDAQ: REGN) and Sanofi (NASDAQ: SNY) as a treatment for moderate to severe atopic dermatitis, the most common form of eczema.
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AbbVie said it would pay $135.11 a share in cash, a 49% premium to Apogee's closing price last week of $90.38. Here are two reasons to buy AbbVie stock if the deal goes through, and one reason to stand on the sidelines.
Immunology is AbbVie's primary core competency. While the pharmaceutical company has successfully transitioned patients from Humira to its newer blockbusters, Skyrizi and Rinvoq, the Apogee acquisition provides immediate entry into next-generation targets. Apogee's lead **** et, zumilokibart, directly targets interleukin-13 (IL-13). This allows AbbVie to build a powerful clinical footprint in massive, high-margin indications such as atopic dermatitis and asthma, directly positioning it to challenge dominant market players.
The deal would bring a promising immunology drug, zumilokibart, into AbbVie's pipeline. This is a drug that many see as competing with Dupixent from Regeneron Pharmaceuticals (NASDAQ: REGN) and Sanofi (NASDAQ: SNY) as a treatment for moderate to severe atopic dermatitis, the most common form of eczema.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
AbbVie said it would pay $135.11 a share in cash, a 49% premium to Apogee's closing price last week of $90.38. Here are two reasons to buy AbbVie stock if the deal goes through, and one reason to stand on the sidelines.
Immunology is AbbVie's primary core competency. While the pharmaceutical company has successfully transitioned patients from Humira to its newer blockbusters, Skyrizi and Rinvoq, the Apogee acquisition provides immediate entry into next-generation targets. Apogee's lead **** et, zumilokibart, directly targets interleukin-13 (IL-13). This allows AbbVie to build a powerful clinical footprint in massive, high-margin indications such as atopic dermatitis and asthma, directly positioning it to challenge dominant market players.
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