Eli Lilly is making its biggest move yet into the rapidly evolving field of psychedelic medicine, acquiring clinical-stage biotechnology company AtaiBeckley in a deal valued at up to $3.8 billion.
In the statement announcing the acquisition, the Indianapolis-based drugmaker said it will pay $6.75 per share in cash, valuing the transaction at approximately $2.8 billion upfront. Lilly could also pay up to an additional $2.50 per share, or roughly $1 billion, if AtaiBeckley's experimental therapies achieve specified development and regulatory milestones.
