Eli Lilly to Buy Atai Beckley for $2.8 Billion

Eli Lilly said on July 16 that it has reached a definitive agreement to acquire clinical-stage biopharmaceutical company Atai Beckley for $6.75 in cash per share, valuing the equity at about $2.8 billion. According to 36Kr, shareholders could also receive up to $2.50 per share in contingent value rights if two psychiatric drug candidates hit specified development and regulatory milestones, which would add about $1 billion in potential equity value. The deal is expected to close in the third quarter of this year, pending shareholder and regulatory approval.