AbbVie Is Said in Talks to Buy Gilgamesh in $1 Billion Deal (1)

AbbVie Inc. is in talks to acquire next-generation psychedelics developer Gilgamesh Pharmaceuticals, according to people familiar with the matter, highlighting growing interest in a controversial field of medicine that’s starting to gain wider acceptance.

A potential deal could value privately held Gilgamesh at about $1 billion, the people said, asking not to be identified because the information is private. An announcement could be made in the coming weeks, the people said.

Deliberations are ongoing and could still be delayed or fall apart, according to the people. A representative for AbbVie, which reported earnings early Thursday, declined to comment, while ...