Eli Lilly (LLY.US) shockingly entered the psychedelic drug race with a $3.8 billion acquisition of Atai Beckley (ATAI.US) at a 26% premium.

Zhito Finance APP has learned that Eli Lilly has agreed to acquire Atai Beckley Inc. for up to $3.8 billion, highlighting the growing interest of large pharmaceutical companies in the once niche field of psychedelics medicine (psychedelic drug therapy).