AbbVie (ABBV) Boosts Neuropsychiatric Portfolio With New Deal

Group 1 - AbbVie Inc. has signed a collaboration and option-to-license agreement with Gilgamesh Pharmaceuticals to develop next-generation therapies for psychiatric conditions, with an upfront payment of $65 million and potential total payments of up to $1.95 billion [1][2] - The partnership aims to leverage AbbVie's expertise in psychiatry and Gilgamesh's research platform to discover novel neuroplastogens, which may address challenges associated with classic psychedelic compounds [2] - AbbVie has seen a 4.1% increase in shares year-to-date, while the industry has risen by 13.4%, indicating a need for strategic partnerships to drive long-term growth [3] Group 2 - AbbVie's neuroscience portfolio includes Vraylar, which generated $694 million in sales in Q1 2024, reflecting a 23.6% year-over-year increase [3] - AbbVie is set to acquire Cerevel Therapeutics for $8.7 billion, which will enhance its neuroscience pipeline with new candidates for various psychiatric and neurological disorders [4][5] - The acquisition is expected to close in mid-2024, pending shareholder and regulatory approval [5]