– AbbVie to pay up to $1.2 billion for Gilgamesh’s psychedelic drug.
– Deal focuses on investigational drug for major depression.
– AbbVie expands neuroscience portfolio with this acquisition.
AbbVie has announced an agreement to acquire Gilgamesh Pharmaceuticals’ investigational psychedelic drug aimed at treating major depression, with the deal valued at up to $1.2 billion. This acquisition marks a significant step for AbbVie as it continues to expand its focus on neuroscience. The company has been actively investing in this area, having acquired Cerevel Therapeutics for $9 billion last year, although the schizophrenia drug involved in that deal did not meet expectations in key trials.
The acquisition of Gilgamesh’s drug highlights the growing interest among pharmaceutical companies in the potential of psychedelics for treating psychiatric disorders. Despite setbacks in the field, such as the rejection of Lykos Therapeutics’ MDMA candidate for post-traumatic stress disorder by regulators last year, companies remain optimistic. The current U.S. administration, under Health and Human Services Secretary Robert F. Kennedy Jr., has expressed support for ending what it describes as the “aggressive suppression of psychedelics.”
In a related development, the European Commission has granted marketing authorization for Gilead Sciences’ lenacapavir, a twice-yearly injection for preventing HIV infection. This approval applies to the European Union’s 27 member states, as well as Norway, Iceland, and Liechtenstein. The drug, marketed as Yeytuo in Europe and Yeztugo in the U.S., is priced at over $28,000 annually in the U.S., leading some insurers to delay coverage. Gilead is also pursuing regulatory reviews in several other countries, including Australia, Brazil, and Canada.
The acquisition of Gilgamesh’s psychedelic drug by AbbVie is a strategic move to bolster its neuroscience pipeline and address unmet needs in major depression treatment. As the field of psychedelics continues to evolve, this deal positions AbbVie at the forefront of innovative psychiatric therapies.