Reported 10 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