A $10.9 billion gamble on the next generation "Drug King"! AbbVie (ABBV.US) acquires Apogee (APGE.US) at a 49% premium, aiming for Sanofi's Dupixent.

According to the Intelligence Financial APP, global pharmaceutical giant AbbVie (ABBV.US) announced on Monday that it has reached a final acquisition agreement with clinical-stage biotechnology company Apogee Therapeutics (APGE.US), and will acquire the latter for approximately $10.9 billion in all-cash deal. This marks AbbVie's largest transaction since its $63 billion acquisition of Botox manufacturer Allergan in 2019.