By Puyaan Singh

-AbbVie will buy an experimental depression drug from partner Gilgamesh Pharmaceuticals for up to $1.2 billion, the companies said on Monday, seeking to access a fast-growing market for psychedelic-based treatments.

The deal is the latest in the more than $20 billion AbbVie has spent on acquisitions since 2023 for drugs that can drive growth as its flagship rheumatoid arthritis treatment, Humira, lost patent protection.

The companies had signed a partnership last year to develop therapies for psychiatric disorders, with privately held Gilgamesh set to receive up to $1.95 billion in option fees and milestone payments.

The deals with Gilgamesh, which is also developing treatments for anxiety and post-traumatic stress disorder, also launch AbbVie into the race to develop p

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