Eli Lilly Announces $6.3 Billion Acquisition of Centessa Pharmaceuticals
Eli Lilly (LLY) has announced a $6.3 billion acquisition of Centessa Pharmaceuticals (CNTA), leading to a positive market reaction. The deal includes a $38 per share offer plus contingent value rights (CVRs) that could add up to $1.5 billion if Centessa's lead drug candidate meets regulatory milestones. The acquisition is seen as a strategic move to expand Lilly's presence in neuroscience.
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Topics: acquisition biotech pharmaceutical industry regulatory milestones stock market reaction