If secured, AbbVie will add Apogee’s IL-23 blocker to its current immunology stalwarts Skyrizi and Rinvoq, which have helped the pharma ride out the steep patent cliff left behind from mega-blockbuster drug Humira.
AbbVie has easily stuck the landing after falling off a steep patent cliff left by mega-blockbuster immunology drug Humira. But more is more, and AbbVie’s business development team is said to be nearing a potential takeover of Apogee Therapeutics for $11 billion.
The Financial Times reported the potential deal on Friday, citing anonymous sources with knowledge of the matter. BioSpace has reached out to AbbVie and Apogee to seek independent confirmation of the deal but the request had not been returned as of publication.
Nevertheless, analysts lauded the rumored deal. “Apogee bolt-on acquisition fits naturally with AbbVie’s existing I&I portfolio,” BMO Capital Markets analysts told investors on Friday.
This portfolio has been led by Skyrizi and Rinvoq since the pharma lost exclusivity on anti-inflammatory agent Humira, which reigned as the industry’s most valuable medicine for six years straight and made AbbVie the immunology powerhouse it’s known as today.
The patent cliff for such a massive franchise is impossibly steep—from peak sales of $21.2 billion in 2022, Humira crashed to $14.4 billion the following year, when copycat versions entered the market. AbbVie has largely ridden out the fall gracefully. In a Feb. 1, 2025 note, BMO analysts said that the pharma has “finally fully moved on from the narrative of the Humira” loss of exclusivity.
AbbVie’s post-Humira strategy has revolved heavily around the anti-IL-23 asset Skyrizi, approved for several immune indications such as severe plaque psoriasis and inflammatory bowel diseases. Last year, the drug surged 49.7% to bring in $17.6 billion in sales. The JAK inhibitor Rinvoq has also helped buttress AbbVie’s revenue, growing 38.8% in 2025 to make $8.3 billion.
Now, AbbVie is apparently looking to Apogee’ for more. The biotech’s headlining asset is the atopic dermatitis drug zumilokibart, a long-acting IL-23-blocking antibody that BMO on Friday said appears “slightly improved” versus Regeneron and Sanofi’s Dupixent, while also providing a “differentiated dosing profile.” Dupixent, which has been hugely successful for the partners, is designed to be injected under the skin every two weeks, while zumilokibart, also a subcutaneous drug, can be dosed every three to six months, according to BMO.
Phase 2 data released last month showed that at 16 weeks, 50.5% to 65.9% of zumilokibart-treated patients saw a 75% improvement in atopic dermatitis severity. Meanwhile, 23.4% of placebo comparators hit this mark.
Though direct head-to-head studies comparing zumilokibart with Dupixent have yet to be conducted, BMO pointed to the blockbuster’s performance in the Phase 3 SOLO 1 and SOLO 2 studies, which found placebo-adjusted rates of 75% improvement ranging from 32% to 37%.
“With efficacy seemingly improved, and an extended dosing profile that could reduce patient injection burden, zumilokibart appears potentially differentiated within the atopic dermatitis treatment landscape,” the analysts added.
