Lilly has entered into a definitive agreement to acquire AtaiBeckley, in a deal valued at approximately US$3.8 B. The acquisition provides Lilly access to AtaiBeckley’s innovative pipeline, including BPL-003, an intranasal 5-MeO-DMT-based therapy in Phase III development for treatment-resistant depression, as well as a broader pipeline of rapid-acting neuroplastogens. This deal marks Lilly’s largest move into psychedelic medicines and significantly expands its neuroscience portfolio. Lilly aims to broaden its neuroscience leadership, address significant unmet needs in mental health, and capitalise on emerging psychedelic-inspired therapies with strong long-term commercial and therapeutic potential globally.