NEW YORK, June 27, 2026, 15:14 EDT
- AbbVie ended Friday at $253.35, up 4.2% and hitting a new 52-week high. Volume reached around 52.6 million shares.
- The stock’s jump Friday suggested about $18 billion got added to equity value, topping the $10.9 billion in cash AbbVie has agreed to pay for Apogee.
- FDA signed off on expanded pediatric use for Skyrizi at 4:50 p.m. ET, after the close, adding new immunology news for Monday.
U.S. equity markets were closed for the weekend, so the main takeaway on AbbVie Inc. NYSE:ABBV last week wasn’t limited to the Apogee deal. Investors saw fresh market value assigned to that deal as shares swung again Friday.
AbbVie shares jumped $10.21, or 4.2%, to $253.35 on Friday, matching the 52-week high. Roughly 52.6 million shares changed hands, far above the average 5.92 million on Google Finance. At Friday’s close, the move added about $18 billion in market cap, based on Google Finance data.
AbbVie moved above the target price. AbbVie said Monday it will buy all shares of Apogee Therapeutics NASDAQ:APGE for $135.11 a share in cash, putting Apogee’s value near $10.9 billion. Both companies expect the deal to close in the third quarter. AbbVie said the deal will add to adjusted diluted EPS starting in 2032.
AbbVie traded higher this week, finishing at $253.35 on June 26 from $230.01 at last Friday’s close. That’s up 10.1% for the week. Nearly half of the week’s dollar gain came Friday. The stock kept its gains from Monday’s deal pop.
AbbVie beat the healthcare tape Friday. The Health Care Select Sector SPDR Fund (NYSEARCA:XLV) gained 3.0%, while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) dropped 0.5%. AbbVie closed up 4.2%, topping both.
The gap is important since buyers tend to balk at debt-heavy biotech bets with payouts far off. On Friday, AbbVie gained more market value than what it will pay in cash for Apogee, despite AbbVie saying the deal won’t add to adjusted EPS until 2032.
AbbVie Chairman and CEO Robert A. Michael said the Apogee deal could provide “significant long-term value for shareholders.” AbbVie said Apogee’s pipeline, with zumilokibart as the lead asset, carries “mega-blockbuster peak sales potential” in atopic dermatitis, asthma and other inflammatory diseases. AbbVie News Center
RBC Capital Markets’ Brian Abrahams told Reuters the deal “makes sense” and called AbbVie an “ideal acquirer” for zumilokibart. Chris Schott at J.P. Morgan said investors wanting more late-stage growth would probably like the deal. Reuters
RBC’s Trung Huynh told Investor’s Business Daily the buy “helps partially solve one of the biggest investor concerns of what drives growth beyond Skyrizi/Rinvoq.” The real question for the stock now is how much investors will pay for new immunology assets with Skyrizi and Rinvoq still the main growth story. Investor’s Business Daily
Skyrizi brought in $4.483 billion in first-quarter sales, up 30.9%. Rinvoq sales gained 23.3% to $2.119 billion. Humira dropped 38.6% to $688 million as biosimilar rivals took share.
AbbVie NYSE:ABBV announced FDA approval for Skyrizi after the close on Friday. The regulator cleared Skyrizi use in kids six and up with moderate-to-severe plaque psoriasis or active psoriatic arthritis, and approved a 55 mg syringe for patients under 40 kg. The news hit around 4:50 p.m. ET.
AbbVie’s Roopal Thakkar said Skyrizi is now the “first and only IL-23 inhibitor” with FDA approval in the U.S. for kids six and up, under 40 kg, with plaque psoriasis or psoriatic arthritis. AbbVie NYSE:ABBV edged down 0.15% to $252.98 in after-hours trading at 7:59 p.m. ET. PR Newswire
Skyrizi’s new label hits the tape Monday, and traders will see if it trades on its own after Apogee’s move. The next big figure for AbbVie is still coming: the company said Friday it plans to post Q2 earnings before the open on July 31, with its call at 8 a.m. Central.
