Drugmaker AbbVie (ABBV.N), opens new tab is in talks to acquire privately-held mental health therapeutics company Gilgamesh Pharmaceuticals in a deal worth about $1 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The U.S. drugmaker has spent over $20 billion on acquisitions since 2023 as its flagship rheumatoid arthritis treatment, Humira, lost patent protection.
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Gilgamesh is a clinical-stage company developing therapies for psychiatric disorders, including depression, anxiety and post-traumatic stress disorder.
In May, AbbVie said it is partnering with Gilgamesh to develop therapies for psychiatric disorders, under which Gilgamesh could receive up to $1.95 billion in option fees and milestone payments.
Deliberations over the acquisition are ongoing and could be delayed or fall apart, Bloomberg News reported.
