Eli Lilly buys AtaiBeckley for $3.8B, expanding into psychedelic depression treatments

Eli Lilly agreed to acquire clinical-stage AtaiBeckley for up to $3.8 billion. The transaction consists of a $2.8 billion upfront cash payment and up to $1 billion in potential milestone payments.

The deal secures BPL-003, a nasal spray designed for treatment-resistant depression. The U.S. Food and Drug Administration has already granted this asset Breakthrough Therapy Designation.

This acquisition diversifies Lilly’s portfolio beyond its primary diabetes and weight-loss franchises. The move represents one of the largest investments in the psychedelic medicine sector to date, positioning Lilly against competitors like Johnson & Johnson.