AbbVie highlighted its recent acquisition of a psychedelic drug, bretisilocin, during its fourth quarter earnings call. The company purchased the therapy from Gilgamesh Pharmaceuticals for $1.2 billion in August 2025. Bretisilocin, which is related to DMT, is being developed for major depressive disorder (MDD).
AbbVie Chief Scientific Officer Roopal Thakkar described bretisilocin as a “breakthrough type therapy.” Thakkar explained that the drug allows patients to experience a brief hallucinatory period that ends quickly, enabling them to leave the clinic soon after treatment.
The drug has already shown promise in clinical studies. In March 2025, Gilgamesh released Phase 2 results indicating that nearly all 40 patients with MDD who received bretisilocin went into remission. AbbVie expects additional Phase 2 data from two cohorts this year, which could inform plans for Phase 3 trials.
Meanwhile, Johnson & Johnson’s Spravato—a nasal spray derived from ketamine—continues to see increased sales. J&J reported $503 million in Spravato sales during the fourth quarter of last year, up 69% compared to the same period in 2024. For the full year, sales reached $1.7 billion.
“We are very encouraged by the progress of Spravato,” said CEO Joaquin Duato on J&J’s January earnings call. Analysts agreed with Duato that patients with challenging conditions like MDD could benefit from these treatments.
Jefferies analysts noted after J&J’s earnings call that “Spravato’s commercial momentum . . . provides evidence that psychedelics can generate meaningful sales in hard-to-treat CNS disorders,” even if their use remains limited to hospitals or clinics rather than at home. They added that J&J’s efforts to expand infrastructure and secure reimbursement should help facilitate adoption of future psychedelic therapies.
Other companies are also advancing psychedelic drugs for mental health conditions. Compass Pathways and Definium (formerly MindMed) are preparing to seek FDA approval for their own treatments later this year. Compass is planning multiple Phase 3 readouts for its psilocybin-based therapy COMP360 targeting treatment-resistant depression, while Definium expects three Phase 3 datasets for its LSD-based drug DT120 aimed at generalized anxiety disorder and MDD.
Wainwright analyst Patrick Trucchio told BioSpace last month he expects both DT120 and COMP360 will likely be approved by 2027.
