Eli Lilly company headlines, earnings, strategy, leadership, and market-moving business updates.
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The deal would expand Lilly’s neuroscience and psychiatric drug pipeline through AtaiBeckley, as big pharma seeks new ways to address mental health disorders beyond existing antidepressants.
THE APEX TIMES
THE APEX TIMES
The acquisition would expand Lilly’s mental-health footprint as the drugmaker continues to pursue external growth.
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AtaiBeckley surged about 50% ahead of the open after a market report said Eli Lilly is in talks to buy the psychedelic-focused company at a premium. Neither company confirmed the negotiations in the posting that circulated to markets.
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Shares of the psychedelics-focused biotech AtaiBeckley surged in premarket trading after reports that Eli Lilly is in discussions about a potential deal, sending momentum into a space that has attracted both scientific and commercial interest.
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Shares of GH Research (NASDAQ: GHRS) rose sharply in early trading after media reports said Eli Lilly (NYSE: LLY) is discussing an acquisition of psychedelic drug developer Atai Life Sciences (NASDAQ: ATAI). No companies involved confirmed the discussions in the report.
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The acquisition gives Lilly a pipeline asset built around a DMT (dimethyltryptamine) nasal spray, which has received U.S. FDA Breakthrough Therapy Designation for treatment-resistant depression.
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The deal, announced as a definitive agreement, would bring AtaiBeckley’s clinical-stage pipeline in treatment-resistant depression and other mental health areas into Eli Lilly’s broader research portfolio.
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A venture-capital investor pointed to the structure and timing of AtaiBeckley’s sale process as a reason a competing bidder may have trouble topping Eli Lilly’s interest, after months of steps designed to test alternatives.
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A recent market snapshot suggests Wegovy accounted for roughly 89% of weekly prescriptions, leaving Eli Lilly’s obesity medicine trailing despite continued demand for the class.
