AbbVie Makes Bold Move into Psychedelic-Based Depression Medication Market
After facing a setback last year with a failed trial in schizophrenia, AbbVie is back in the game with a new venture into the world of psychedelic-based depression medication. The pharmaceutical giant recently announced its acquisition of Gilgamesh Pharmaceuticals’ lead drug candidate, bretisilocin, for a hefty sum of $1.2 billion. This move solidifies AbbVie’s commitment to exploring new frontiers in mental health treatment, despite past challenges.
The decision to pursue a psychedelic-based depression medication comes on the heels of AbbVie’s previous disappointment with the mid-stage schizophrenia drug, emraclidine. The company had invested heavily in acquiring Cerevel Therapeutics, the developer of emraclidine, only to face unexpected trial failures. Despite the setback, AbbVie is determined to make a mark in the mental health arena, particularly in the realm of psychedelics.
AbbVie’s foray into psychedelics follows in the footsteps of Johnson & Johnson, which found success with its esketamine-based depression drug, Spravato. By acquiring bretisilocin, AbbVie aims to diversify its neuro portfolio, which already includes successful drugs like Vraylar for depression and migraine medications like Ubrelvy and Qulipta. The company’s expertise in neurological therapeutics, including Botox for overactive muscle spasms, positions it well to explore new treatment avenues in the field of mental health.
Despite the challenges and uncertainties that come with developing psychedelic medications, AbbVie is confident in bretisilocin’s potential. Phase 2 results have shown promising outcomes, with the drug significantly reducing the severity of depression symptoms compared to a low-dose comparator. This success bodes well for AbbVie’s future in the burgeoning field of psychedelic R&D.
The resurgence of interest in neuroscience and psychedelic research signals a shift in the pharmaceutical industry’s approach to mental health treatment. While the road to market success may be long and arduous, AbbVie’s bold move into the psychedelic-based depression medication market sets a precedent for Big Pharma’s commitment to addressing unmet needs in psychiatric care. As the company continues to invest in innovative treatment approaches, the future of mental health treatment looks brighter than ever.
