2026-03-31 20:24:35
Eli Lilly to Acquire Centessa Pharmaceuticals for $38 per Share Plus Contingent Value Rights
Expected Stock impact: Very Positive
Eli Lilly and Company (NYSE: LLY) has announced a definitive agreement to acquire Centessa Pharmaceuticals plc (Nasdaq: CNTA) for $38.00 in cash per share, along with a contingent value right (CVR) that could yield up to an additional $9.00 per share based on the achievement of specific milestones. This acquisition is aimed at enhancing Lilly's portfolio in the neuroscience sector, particularly in the treatment of sleep-wake disorders. Centessa's lead candidate, cleminorexton, has shown promising results in clinical trials for narcolepsy and idiopathic hypersomnia, positioning it as a potential best-in-class treatment. The transaction is expected to close in the third quarter of 2026, pending shareholder approval and regulatory clearances. The deal represents a significant premium of approximately 40.5% over Centessa's 30-day volume-weighted average trading price as of March 30, 2026. The boards of both companies have approved the transaction, and key shareholders representing about 24.1% of Centessa's outstanding shares have signed voting agreements to support the acquisition. This strategic move is anticipated to accelerate the development of Centessa's innovative therapies and expand Lilly's capabilities in sleep medicine.
