Get all your news in one place.
100's of premium titles.
One app.
Start reading
International Business Times
International Business Times
Business

BIZARRE: Eli lilly changed depression care with prozac now its betting on psychedelics with ataibeckley acquisition | Mind Blowing Facts

Lilly Eli Lilly Depression biotechnology CNBC
The acquisition gives Lilly access to AtaiBeckley's most advanced experimental treatment, BPL-003, a nasal spray that is currently being evaluated in Phase 3 clinical trials for treatment-resistant depression. (Credit: Scott Olson/Getty Images)

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.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Blanket Fetches $1.8 Million: Navajo heirloom stuns at auction; record for textiles set
In a surprising turn of events, a Navajo blanket believed to be a mere heirloom sold for an impressive $1.8 million at auction. Initially expected to attract bids between $100,000 and $200,000, the piece drew extraordinary collector interest. Hailing from the mid-19th century, this blanket illustrates the exceptional weaving skills…
The Times of India
The Times of India
Sting says his 6 children will not inherit his multimillion-dollar fortune
British musician Sting has reiterated that his six children will not inherit a substantial fortune from him, arguing that giving them too much money could do more harm than good. The singer, whose real name is Gordon Matthew Thomas Sumner, believes children should develop independence and learn to build their…
The Times of India
The Times of India
Maybe it’s a new tagline. Maybe it’s more punctuation. Maybelline’s 35-year-old slogan has an update
First introduced in 1991, ‘Maybe she’s born with it’ is out the door – but is the new slogan a glow-up?
The Guardian - AU
The Guardian - AU
Russell Brand’s Father Slammed His Victims, And Now A Clip Of A Disturbing Act They Did Together Has Surfaced
“The apple doesn’t fall far from the tree,” one netizen said as Russel Brand’s 24-year-old confession about his father surfaced after his prison sentence.
Bored Panda
Bored Panda
Woman goes to McDonald’s and switches her drink order from Coke to lemonade. Then she discovers what the chain is allegedly doing to match Chick-fil-A
'They should be transparent about it.'
We Got This Covered
We Got This Covered
Louisiana man orders a Wagyu ribeye at LongHorn Steakhouse and struggles to cut it. Then he pans the camera: ‘Is it just me or is that raw?’
'You eating this Wagyu Ribeye or sending it RIGHT back to the chef?'
We Got This Covered
We Got This Covered
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play