AbbVie in Talks to Buy Gilgamesh for About $1 Billion

AbbVie Inc. is in advanced discussions to acquire privately held Gilgamesh Pharmaceuticals in a transaction that could value the mental-health therapeutics developer at about $1 billion, according to people familiar with the matter cited by Bloomberg News. An announcement could come in the next few weeks, although the negotiations may still be delayed or collapse. New York-based Gilgamesh is a clinical-stage company working on psychedelic-inspired treatments for depression, anxiety and post-traumatic stress disorder. The prospective takeover would deepen a relationship formed in May, when AbbVie agreed to collaborate on psychiatric therapies under a pact that could pay Gilgamesh up to $1.95 billion in option fees and milestone payments. A deal would continue AbbVie’s acquisition-led push to offset revenue lost after its flagship arthritis drug Humira faced biosimilar competition. The Illinois drugmaker has spent more than $20 billion on takeovers since 2023. Representatives for AbbVie and Gilgamesh declined to comment on the talks.