Eli Lilly Announces $6.3 Billion Acquisition of Centessa Pharmaceuticals
Eli Lilly (LLY) has agreed to acquire Centessa Pharmaceuticals (CNTA) for $6.3 billion in up-front payments and up to $1.5 billion in milestone payments. The deal, focused on neuroscience and sleep-wake disorder treatment, has been positively received by the market, with Lilly's stock rising. The acquisition is expected to be funded without significant debt due to Lilly's strong financial position.
Topics: acquisition biotech Centessa Pharmaceuticals Eli Lilly pharmaceutical industry stock market reaction