BRIEF—AbbVie said to be in talks to acquire Gilgamesh for $1B

US pharma major AbbVie is considering a $1-billion acquisition of Gilgamesh Pharmaceuticals, Bloomberg News reported on Wednesday, citing people familiar with the matter.

The sources cautioned that talks are still ongoing, and it is possible that a deal may not be reached.

The companies are already partnering. Last year AbbVie and Gilgamesh announced a collaboration and option-to-license agreement to develop next-generation therapies for psychiatric disorders, when AbbVie paid an upfront of $65 million and committed up to $1.95 billion in aggregate option fees and milestones, as well as tiered royalties from mid-single to low-double digits on net sales.