July 30 (Reuters) -

Drugmaker AbbVie is in talks to acquire

privately-held mental health therapeutics company Gilgamesh

Pharmaceuticals in a deal worth about $1 billion, Bloomberg News

reported on Wednesday, citing people familiar with the matter.

The U.S. drugmaker has spent over $20 billion on

acquisitions since 2023 as its flagship rheumatoid arthritis

treatment, Humira, lost patent protection.

Gilgamesh is a clinical-stage company developing

therapies for psychiatric disorders, including depression,

anxiety and post-traumatic stress disorder.

In May, AbbVie ( ABBV ) said it is partnering with Gilgamesh to

develop therapies for psychiatric disorders, under which

Gilgamesh could receive up to $1.95 billion in option fees and

milestone payments.

Deliberations over the acquisition are ongoing and could

be delayed or fall apart, Bloomberg News reported.

AbbVie ( ABBV ) and Gilgamesh did not immediately respond to

Reuters' requests for comment.