Pfizer share price halved from pandemic peak
Pfizer's share price has halved since pandemic peaks, yet the company still generates substantial cash flow with relatively low leverage.
Snapshot · Bloomberg Intelligence
Microsoft and Chevron Sign 20-Year Power Deal For Texas Data Center
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Jun 22, 2026
Where this was said
AbbVie's $10.9B All-Cash Acquisition of Apogee Therapeutics
At 11:51 · chapter starts 9:08
Sam Fazeli discusses AbbVie's bid for eczema drug developer Apogee, its $50B+ immunology revenue base, pharma's cash generation strength, and emerging frontiers in neuroscience and women's health. [1] — Sam Fazeli "The entire pharma world is chasing obesity drugs worth $100 billion. But AbbVie's two immunology drugs — Skyrizi and Rinvoq — are already a…" 10:08
$10.9 billion AbbVie deal
AbbVie agreed to acquire Apogee Therapeutics for $10.9 billion in cash to expand its anti-inflammatory drug portfolio.
49% acquisition premium
AbbVie's offer for Apogee Therapeutics represents a roughly 49% premium to Apogee's closing price of $90.38.
AbbVie's $10.9B Apogee Bet on Eczema
AbbVie already has the biggest immunology franchise in pharma with Skyrizi and Rinvoq heading toward $50B+ in combined revenue. Buying Apogee for $10.9 billion gives it a foothold in atopic dermatitis — a massive and underserved eczema market.
You Don't Need Obesity Drugs to Win in Pharma
The entire pharma world is chasing obesity drugs worth $100 billion. But AbbVie's two immunology drugs — Skyrizi and Rinvoq — are already approaching $50 billion combined. Inflammation is a pharma goldmine that doesn't get nearly enough attention.
$50B+ from Skyrizi & Rinvoq
AbbVie's two drugs, Skyrizi and Rinvoq, are approaching well over $50 billion in combined revenue, rivaling the obesity drug market.
Why Every Major Pharma Company Can Afford Big Acquisitions
Big pharma runs at 30%+ operating margins across the board. Even Pfizer, whose stock has halved from pandemic peaks, generates enormous cash with low leverage. These are cash-rich companies, and large all-cash acquisitions are entirely within reach for almost all of them.
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