A rising tide scenario: Why other Big Pharmas could follow Lilly into psychedelics

Lilly enters psychedelic drug race with up to $3.8 billion AtaiBeckley deal, giving it access to BPL-003, a late-stage psychedelic-based nasal spray for treatment-resistant depression.

Eli Lilly's move into psychedelics marks the largest agreement ever recorded in the space, signaling a shift from niche biotech interest to mainstream Big Pharma investment.

Meanwhile, AbbVie has also entered the space with a $1.2 billion deal for a next-generation psychedelic compound, underscoring a broader trend among major pharma companies.

Regulatory tailwinds, including easing restrictions and White House executive orders to fast-track FDA reviews of psychedelics, are making the field more attractive to large drugmakers.

Industry analysts believe other neuroscience-focused Big Pharma players may follow Lilly and AbbVie, driven by weight-loss drug windfalls, strong neuroplasticity data, and unmet need in treatment-resistant depression and PTSD.

The emerging class of 'neuroplastogens'—non‑hallucinogenic compounds that mimic rapid, durable antidepressant effects—represents a key strategic area for future Big Pharma bets.