Sinopharm Modern's Wholly-Owned Subsidiary Gets Approval for Esketamine Hydrochloride API
Sinopharm Modern announced that its wholly-owned subsidiary Sinopharm Industrial received the Chemical API Marketing Application Approval Notice issued by the National Medical Products Administration, approving the marketing application for esketamine hydrochloride API. Esketamine is a non-selective NMDA receptor antagonist, an anesthetic and analgesic drug commonly used in surgical anesthesia, pain management, and treatment of treatment-resistant depression.
Eli Lilly to acquire AtaiBeckley for $2.8 billion
Eli Lilly is acquiring psychedelic drug developer AtaiBeckley for $2.8 billion. The deal, which could be valued at up to $3.8 billion, marks a significant move into psychedelic-based mental health treatments. Mizuho Americas healthcare equity strategist Jared Holz noted that large-cap pharma is increasingly embracing alternative therapies, citing J&J's ketamine-based product annualizing nearly $2 billion. Holz expects 2025 to be a historic year for biotech M&A, with over 30 transactions north of a billion dollars.
AtaiBeckley Joins Russell 2000 and 3000 Indices, Canaccord Raises Price Target to $17
AtaiBeckley N.V. will be added to the Russell 2000 and Russell 3000 indices effective June 29, a move the company notes is significant given over $12 trillion in assets benchmarked to Russell indexes. Canaccord Genuity subsequently raised its price target on the stock from $15 to $17 on July 7, implying more than 227% upside, while reiterating a Buy rating. The revision followed completion of dosing in the Phase 2 Elumina trial of VLS-01 for treatment-resistant depression, with the company targeting Phase 3 development for major depressive disorder and potential expansion into generalized anxiety disorder. AtaiBeckley is a clinical-stage biopharmaceutical company focused on mental health therapies, with a pipeline that includes BPL-003 in Phase 2 for treatment-resistant depression and alcohol addiction, and RL-007 for cognitive decline from schizophrenia.
