Reported 5 months ago
The article discusses AbbVie's recent acquisition with Gilgamesh Pharmaceuticals to collaborate on novel therapies for psychiatry, focusing on enhancing neuroplasticity inspired by psychedelic drugs' effects. The deal includes $65 million upfront with potential royalties and fees totaling almost $2 billion. This partnership provides AbbVie an opportunity to expand its presence in the psychiatry market, potentially benefiting from the growing antidepressant market projected to reach $18.2 billion by 2027. Despite the promising prospects, investors should be mindful of the lengthy drug development process and high failure risks, highlighting the need for realistic expectations.
Source: YAHOO