AbbVie is buying biotech Apogee Therapeutics in a $10.9bn deal, strengthening its pipeline for immunology and inflammation medicines.
As part of the deal, Apogee’s shareholders will receive $135.11 a share in cash, a 49 per cent premium to the biotech’s closing price on Thursday, AbbVie said in a statement on Monday.
Apogee’s shares closed 46.7 per cent higher at $132.55 in New York while AbbVie rose 6.2 per cent to $230.01.
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