Morningstar

Eli Lilly to Buy Centessa Pharmaceuticals for Initial $6.3 Billion

Provided by Dow Jones Mar 31, 2026, 11:25:00 AM

By Colin Kellaher

Eli Lilly has agreed to buy clinical-stage company Centessa Pharmaceuticals for an initial $6.3 billion in a deal that expands the drugmaker's neuroscience portfolio and capabilities into sleep medicine.

Eli Lilly on Tuesday said it will pay an initial $38 a share for Centessa, a 38% premium to Monday's closing price of $27.58 for the U.K.-based company.

Centessa investors will also receive non-transferrable contingent value rights worth up to an additional $9 a share, bringing the total potential deal consideration to about $7.8 billion, or $47 a share.

The deal is slated to close in the third quarter.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

March 31, 2026 07:25 ET (11:25 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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