AbbVie: Apogee Deal Just Widened An Already Dominant Moat

AbbVie: Apogee Deal Just Widened An Already Dominant Moat

AbbVie is acquiring Apogee Therapeutics for $10.9B, reinforcing its immunology franchise and addressing future patent cliffs proactively. Skyrizi and Rinvoq have already replaced Humira's revenue, with combined sales surpassing Humira’s peak and continuing to grow at 20–30% post-LOE. Zumilokibart, Apogee’s lead asset, offers best-in-class efficacy and dosing convenience in atopic dermatitis, with Phase 3 data expected in 2028 and approval in 2030. Current ABBV valuation reflects a conservative consensus, assigning zero value to Apogee’s pipeline, presenting free optionality for investors as catalysts approach.

I'm a data analyst working in the diagnostics and telehealth industry, and I write about what I know best, pharma, biotech and healthcare stocks. A few years back I started thinking seriously about long term investing for the future and the idea of retiring early. So I started learning everything I could about investing. What pulled me in was going deep on sectors and companies I already knew by name but didn’t really understand from the inside, not as products or headlines, but as businesses. The more I dug, the more I learned and the research paid me pretty well in terms of gains from those investments. There's a real reward in doing the work, getting to know a company inside out and finding the ones genuinely worth holding for the long haul. I am a numbers person so I try to keep my analysis grounded in data rather than hype. I also just enjoy the process of journaling and writing too. My goal here is simply to share my takes on healthcare names, dig into t...