The Eli Lilly logo appears on the company\u2019s office in San Diego, California, Nov. 21, 2025.<\/p>\n
Mike Blake | Reuters<\/p>\n
Eli Lilly<\/a> will acquire psychedelic drugmaker AtaiBeckley for $2.8 billion up front, the company said Thursday, as momentum grows for using versions of the drugs as mental health treatments.\u00a0<\/p>\n The transaction gives Lilly access to AtaiBeckley’s experimental DMT-based drug that’s being studied in Phase 3 clinical trials for treatment resistant depression. AtaiBeckley is developing several other psychedelics for mental health conditions, including one related to MDMA, also known as ecstasy.\u00a0<\/p>\n AtaiBeckley’s lead drug, BPL-003, is related to dimethyltryptamine, or DMT. The nasal spray is administered in a clinic where patients are monitored for about two hours. Initial Phase 3 trial results are expected in 2029.\u00a0<\/p>\n The acquisition price of $6.75 per share in cash, or about $2.8 billion, is 26% higher than AtaiBeckley’s Wednesday close of $5.36 per share. Lilly could pay up to an additional $2.50 per share, or $1 billion, if the company’s drugs meet certain development and regulatory milestones.<\/p>\n The acquisition marks the latest sign of momentum behind psychedelics. The Trump administration has prioritized<\/a> development of psychedelic-based treatments for mental health conditions, including depression and post-traumatic stress disorder.\u00a0<\/p>\n