New York, June 28, 2026, 18:01 EDT
- AbbVie Inc. NYSE:ABBV ended Friday up 4.2% at $253.35, putting shares at a 52-week high in regular trading.
- AbbVie has picked up around $65 billion in market value since the June 18 close, nearly six times what it’s paying in cash for Apogee Therapeutics NASDAQ:APGE.
- It’s a short week with the U.S. market closed July 3 for the holiday. AbbVie’s next earnings call is set for July 31, covering the second quarter.
U.S. cash equities didn’t trade Sunday, so AbbVie’s most recent close is Friday at $253.35. That’s a 4.2% gain for the day and up 17.0% since June 18, which was the last session ahead of the Juneteenth break and before AbbVie’s deal week kicked off.
The scale stands out. With 1.77 billion shares out, going from $216.49 to $253.35 pushed market value up around $65 billion. AbbVie said it will buy Apogee for $10.9 billion in cash. Apogee closed Friday at $132.55, about 1.9% under the $135.11 cash offer.
| Instrument | Friday close | Friday move | Move from June 18 close |
|---|---|---|---|
| AbbVie Inc. NYSE:ABBV | $253.35 | up 4.20% | jumped 17.0% |
| Health Care Select Sector SPDR Fund (NYSEARCA:XLV) | $160.34 | added 3.03% | gained 7.3% |
| SPDR S&P 500 ETF Trust NYSEARCA:SPY | $728.99 | dropped 0.72% | fell 2.4% |
The table compares closes from June 18 and June 26, skipping the Juneteenth holiday to match the trading days.
AbbVie said the Apogee deal will be paid for with debt and comes at a 49% premium to Apogee’s June 18 close. The company expects the deal to reduce adjusted diluted EPS by $0.14 in 2026 and by $0.46 in 2027. AbbVie’s investor deck shows the deal is not expected to add to adjusted EPS until 2032.
| AbbVie deal math | Figure |
|---|---|
| ABBV stock rose from June 18 to June 26 | $36.86 a share |
| Total shares | 1.77 billion |
| Equity value jump, approx. | $65 billion |
| Cash out on Apogee buy | $10.9 billion |
| Market cap gain vs. deal spend | About 6.0 times |
| First expected adjusted EPS bump | 2032 |
Why it matters: Investors want less exposure to AbbVie’s long-term immunology uncertainty and aren’t focusing on short-term profits. AbbVie’s Q1 numbers back that up. Skyrizi and Rinvoq combined brought in $6.60 billion, making up around 44% of total net revenue for the quarter. Humira sales dropped 38.6% to $688 million. AbbVie bumped 2026 adjusted diluted EPS guidance up to $14.08-$14.28. The stock traded at about 17.9 times the midpoint at Friday’s close.
Apogee hands over to AbbVie the late-stage IL-13 antibody zumilokibart for atopic dermatitis, along with APG273 for asthma. AbbVie CEO Robert Michael called the deal a move for “creating significant long-term value for shareholders.” Apogee’s Michael Henderson said AbbVie “positions our programs to reach their full potential.” AbbVie News Center
Skyrizi picked up another FDA approval Friday. AbbVie said regulators cleared the drug for kids 6 and up with moderate-to-severe plaque psoriasis or active psoriatic arthritis. “First and only IL-23 inhibitor approved in the U.S.” for these younger pediatric patients under 40 kg, AbbVie R&D head Roopal Thakkar said. AbbVie News Center
The rally wasn’t just about AbbVie. MarketWatch said shares of AbbVie, Eli Lilly NYSE:LLY, and Johnson & Johnson NYSE:JNJ all finished at record highs Friday, quoting RBC Capital Markets analyst Trung Huynh on the group’s strong positioning and big pipeline deals. Reuters reported the S&P 500 (INDEXSP:.INX) dropped 2.05% for the week and the Nasdaq Composite (INDEXNASDAQ:.IXIC) slid 4.7%, but healthcare stocks gained on Friday.
Bears are still making noise. Back in February, William Blair’s Matt Phipps told Reuters there were worries about more rivals in immunology and inflammation, naming J&J’s Tremfya as one example. That’s what’s driving the premium for Apogee: AbbVie wants to extend its window after Humira and before the next group of patents run out.
This week, traders are watching if AbbVie can stay above $250 after gaining 17%, if Apogee’s spread to the $135.11 bid gets tighter, and if healthcare keeps outpacing tech stocks. NYSE core trading is from 9:30 a.m. to 4:00 p.m. ET. U.S. equity markets will be closed Friday, July 3, for Independence Day observed.
AbbVie isn’t set to report earnings next week. The company said June 26 it will post Q2 numbers on July 31 before the bell and hold its call at 8 a.m. Central. AbbVie also announced a $1.73 per share quarterly dividend, to be paid Aug. 14 to shareholders of record as of July 15.
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