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AbbVie CSO Touts ‘Breakthrough Type Therapy’ Psychedelic as J&J’s Spravato Keeps Growing
AbbVie is progressing with its psychedelic drug, bretisilocin, acquired from Gilgamesh Pharmaceuticals, and is calling it a “breakthrough type therapy” for major depressive disorder. This comes as Johnson & Johnson’s esketamine-based nasal spray, Spravato, reported a significant sales increase, demonstrating a growing market for psychedelics in treating mental health conditions. Other biotechs like Compass Pathways and Definium are also preparing to file for FDA approval for their own psychedelic-based therapies, signaling a “tipping point” for the psychedelic treatment space.