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Centessa Pharmaceuticals surges on $7.8B Eli Lilly acquisition deal with $38/share upfront plus $9/share milestones

Market News
02 Apr 2026
Alex Lavoie
View Source
Bullish
pluang ai news

Eli Lilly announced it will acquire Centessa Pharmaceuticals in a deal valued up to $7.8 billion, paying $38 per share upfront plus contingent value rights worth up to $9 per share based on FDA approvals. Centessa's shares jumped about 44-45% to a new high near $40 following the news, reflecting strong investor enthusiasm. The acquisition expands Eli Lilly's neuroscience portfolio with Centessa's promising sleep disorder drug candidates, with the deal expected to close in Q3 2026 pending approvals. This strategic move positions Eli Lilly in the growing sleep medicine market while Centessa shareholders gain significant premium and potential milestone payments.

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