AbbVie’s $2.1B Capstan Acquisition Signals Strategic Shift Beyond Immunology
AbbVie's $2.1 billion purchase of Capstan Therapeutics marks a deliberate pivot toward next-generation oncology therapies, leveraging in vivo CAR-T technology to diversify beyond its immunology stronghold. The deal comes as HUMIRA biosimilars erode $20B+ annual revenues, with Q2 2025 sales collapsing to $1.18B.
Market confidence persists despite the patent cliff—ABBV shares gained 15% since May, supported by successful immunology replacements SKYRIZI and RINVOQ. The Capstan play demonstrates AbbVie's dual strategy: defending Core franchises while aggressively pursuing curative modalities.