AbbVie agreed to acquire Apogee Therapeutics for $10.9 billion in cash, a move aimed at building out its pipeline in inflammatory diseases. The purchase adds Apogee’s long-acting immunology assets, including zumilokibart, an IL-13–targeting antibody designed for infrequent dosing. Apogee is advancing zurmilokibart in atopic dermatitis and in combination studies for asthma, positioning it as a potentially durable alternative in the crowded immunology landscape. AbbVie framed the transaction as a step toward blockbuster potential for long-acting therapies, with the deal valuing Apogee at about a 50% premium over its prior closing price. The acquisition also intensifies competition in IL-13 and neighboring immunology mechanisms, as companies that already control parts of ulcerative colitis and broader inflammatory indications look to defend and expand share using differentiated durability or regimen convenience.