Eli Lilly announced plans to acquire Centessa Pharmaceuticals for $6.3 billion, marking the company's biggest acquisition in years. The deal gives Lilly access to Centessa's experimental medicines targeting sleep disorders and neurological conditions. The acquisition is being funded in part by cash influx from Lilly's successful GLP-1 diabetes and weight-loss drugs.
The acquisition represents a significant expansion of Lilly's therapeutic portfolio beyond its current focus areas. Sleep disorders affect millions of patients worldwide, representing a substantial market opportunity for pharmaceutical companies. Centessa's pipeline includes treatments for various neurological conditions that complement Lilly's existing research efforts.