Submitted by QTR's Fringe Finance
Massive validation for psychedelics…not as drugs, but as investments could be moments away. Just months after I argued for the millionth time that psychedelic drug developers were likely to become acquisition targets as the sector gained legitimacy, it looks like the first major domino may finally be falling.
According to a Bloomberg report published moments ago, Eli Lilly is in talks to acquire AtaiBeckley, one of the leading developers of next-generation psychedelic therapies. While nothing is finalized, Bloomberg reports a deal could be announced as soon as this week, with Lilly negotiating at a premium to AtaiBeckley’s roughly $2 billion market value.
If this transaction gets across the finish line, I don’t think it’ll be remembered as an isolated acquisition. I think it’ll be remembered as the moment Big Pharma officially entered the psychedelic arms race.
I’ve been writing for well over a year that investors were dramatically underestimating how this story would unfold. Most people focused exclusively on whether psychedelic drugs would work. I was far more interested in what would happen once they did.
Back in January when absolutely no one was talking about the sector, I officially hung my balls out there and name it my “Best Idea” secto
