Eli Lilly to acquire psychedelics maker AtaiBeckley for $2.8B

Published Jul 16, 10:45 AM UTC

Eli Lilly announced the acquisition of psychedelic drugmaker AtaiBeckley for $2.8 billion upfront, with potential additional milestone payments of up to $1 billion. The deal gives Lilly access to AtaiBeckley's lead drug BPL-003, a DMT-based nasal spray in Phase 3 trials for treatment-resistant depression, as well as an MDMA-related compound. Initial Phase 3 results are expected in 2029. The acquisition price of $6.75 per share represents a 26% premium over the previous close. This marks growing momentum for psychedelic-based mental health treatments, supported by the Trump administration's prioritization of such therapies. The deal is part of Lilly's broader spending spree, having already committed over $10 billion upfront on eight acquisitions this year as the world's most valuable healthcare company.