Eli Lilly to buy AtaiBeckley for up to $3.8 billion

According to CNBC, Eli Lilly will acquire clinical-stage psychedelic drug developer AtaiBeckley for up to $3.8 billion, underscoring Big Pharma's growing interest in therapies for mental health conditions. AtaiBeckley's lead drug, BPL-003, is a synthetic form of 5-MeO-DMT given as an intranasal spray for treatment-resistant depression, and the company said last year that a Phase 2b study showed rapid and durable symptom reductions. BPL-003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration and is now in Phase 3 trials. Jefferies analysts said Phase 3 success by early 2029 could open a $1 billion to $2 billion opportunity in treatment-resistant depression.