Beyond the $6.75 per share upfront cash, Lilly is offering up to $2.50 per share through contingent value rights tied to specific milestones. The CVR represents a potential additional $1.0 billion in equity value. Payments hinge on development and regulatory progress: $1.00 per share if VLS-01 starts a Phase three trial within four years of closing, $0.50 per share upon U.S. approval and DEA rescheduling of BPL-003 within five years, and $1.00 per share upon U.S. approval and rescheduling of VLS-01 within seven years.

This article was automatically created using artificial-intelligence technology and reviewed by Dow Jones Newswires editors.

(END) Dow Jones Newswires

July 16, 2026 07:07 ET (11:07 GMT)

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