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Wajeeh Khan

The $11 Billion Reason Abbvie Stock Is Up Today

ABBV AbbVie Apogee Apogee Therapeutics AT

AbbVie (ABBV) shares rallied sharply on Monday after the pharmaceutical behemoth announced a definitive agreement to acquire Apogee Therapeutics (APGE) for about $10.9 billion.

The all-cash transaction will see ABBV purchase all outstanding APGE shares for just over $135 each, which translates to a 50% premium on their previous close.

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