M&A

Eli Lilly (LLY) acquires Centessa for up to $7.8 billion

Published on 3/31/2026

#LLY#Centessa#M&A#pharmaceuticals
Eli Lilly (LLY) acquires Centessa for up to $7.8 billion

AI Summary

Eli Lilly (LLY) announced its acquisition of Centessa Pharmaceuticals in a deal valued up to $7.8 billion, aiming to diversify into sleep disorder treatments. Centessa's lead therapy targets excessive daytime sleepiness and is currently in mid-stage studies. Lilly's offer includes $38 per share in cash, a 37.8% premium, and a contingent value right worth about $1.5 billion. Centessa's shares rose 46% in premarket trading following the announcement, which is set to close in the third quarter.

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