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Eli Lilly to acquire Centessa Pharmaceuticals for up to $7.8B to boost narcolepsy drug pipeline.

Company Fundamentals
31 Mar 2026
CNBC
View Source
Bullish
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Eli Lilly announced it will acquire Centessa Pharmaceuticals for up to $7.8 billion to gain access to Centessa's experimental orexin agonists aimed at treating narcolepsy and excessive daytime sleepiness. The deal includes a $6.3 billion upfront payment and up to $1.5 billion in milestone payments if FDA approvals are met. This acquisition fits Lilly's strategy to invest its GLP-1 drug profits into neuroscience and other promising therapies. The transaction is expected to close in Q3 pending regulatory approval, with Centessa's drug potentially entering the market by 2028 and addressing a market estimated at $15-$20 billion.

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