Eli Lilly to acquire AtaiBeckley for $2.8 billion

Eli Lilly and Company announced on Thursday, July 16, 2026, that it has agreed to acquire the psychedelic drug developer AtaiBeckley in a deal valued at $2.8 billion upfront, with the potential to reach $3.8 billion. The acquisition significantly expands Lilly's neuroscience pipeline with late-stage treatments for treatment-resistant depression, marking a major pharmaceutical company's entry into the emerging field of psychedelic-based medicines.

Under the terms of the agreement, Lilly will pay $6.75 per share in cash for all outstanding AtaiBeckley shares, representing an upfront equity value of approximately $2.8 billion. Shareholders could receive up to an additional $2.50 per share through contingent value rights tied to future development and regulatory milestones, potentially adding another $1 billion to the total transaction value. The upfront price represents a premium of roughly 40% to AtaiBeckley's 30-day volume-weighted average share price. The transaction is expected to close in the third quarter of 2026, pending shareholder and regulatory approvals.

The deal centers on AtaiBeckley's lead drug candidate, BPL003, an intranasal synthetic formulation of 5-MeO-DMT, a...