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16.07.26 - 14:57
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The Big Pharma Psychedelic Buyout Spree Has Begun (ZeroHedge)
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The Big Pharma Psychedelic Buyout Spree Has Begun
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 ...
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16.07.26 - 05:06
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Mainland China funds increase stakes in Hong Kong biotech amid surge of licensing deals (SCMP)
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A growing number of mainland Chinese institutional fund managers have built up stakes in Hong Kong-listed biotechnology stocks over the past month, drawn by attractive valuations amid a surge in cross-border licensing deals in the sector.
China's largest mutual fund manager, E Fund Management, has taken a 7 per cent stake in gene-editing biotechnology firm Biocytogen Pharmaceuticals, buying additional 91,500 shares in the Beijing-based firm at an average price of HK$46.90 each on July 2,......
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