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Eli Lilly to acquire AtaiBeckley in deal valued up to $3.8B
The purchase includes $2.8 billion upfront and up to $1.0 billion in additional payments tied to deal conditions.
Eli Lilly has agreed to buy AtaiBeckley, a developer of psychedelic-based therapies, in a deal with an upfront value of $2.8 billion and total consideration of up to $3.8 billion, the company said.
The acquisition is designed to give Lilly access to BPL-003, AtaiBeckley’s psychedelic-based nasal spray that studies have shown can reduce treatment-resistant depression with a single dose.
Yahoo Finance notes the transaction arrives as competitors expand their presence in psychedelics, while Lilly’s recent market narrative has been largely driven by its weight-loss and diabetes drugs Mounjaro and Zepbound.
The outlet also points to a broader push into psychedelics, including the White House ordering the FDA in April to fast-track research and approvals for psychedelics, and recent deal activity such as AbbVie’s acquisition of Gilgamesh Pharmaceuticals’ Bretisilocin and Johnson & Johnson’s stake in depression drug Spravato.