STAT+: Eli Lilly to buy Centessa Pharmaceuticals, maker of a narcolepsy drug, in $6.3B deal
Why it matters: Eli Lilly will pay $6.3 billion to acquire Centessa Pharmaceuticals, gaining its experimental narcolepsy drug.
- Eli Lilly announced its intent to acquire Centessa Pharmaceuticals for roughly $6.3 billion in cash.
- Centessa Pharmaceuticals is valued at $38 per share in the deal, representing a 38% premium over its Monday closing price.
- The agreement includes potential additional payments of up to $1.5 billion if Centessa’s experimental narcolepsy drug wins U.S. regulatory approval, potentially raising the total purchase price to $47 per share.
- Centessa, launched in 2021, has narrowed its focus from over a dozen programs to disorders causing excessive daytime sleepiness, including narcolepsy.
Eli Lilly is set to acquire Centessa Pharmaceuticals for approximately $6.3 billion in cash, a deal that includes a significant premium for Centessa shareholders and potential additional payments upon regulatory approval of its narcolepsy drug. This acquisition marks a strategic move for Eli Lilly into the sleeping conditions market, leveraging Centessa's focused pipeline developed since its 2021 launch.
