Lilly enters psychedelic drug race with up to $3.8 billion AtaiBeckley deal

Eli Lilly agreed to acquire psychedelic drug developer AtaiBeckley for up to $3.8B, signaling a push to develop treatments for depression and other mental health disorders. The deal expands Lilly’s pipeline into psychedelics and is likely to be a material sentiment catalyst for the sector.

Analysis

Eli Lilly agreed to acquire psychedelic drug developer AtaiBeckley for up to $3.8B, signaling a push to develop treatments for depression and other mental health disorders. The deal expands Lilly’s pipeline into psychedelics and is likely to be a material sentiment catalyst for the sector.