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Lilly seals up to $7.8 billion deal for Centessa in sleep disorder bet
- On Tuesday, Eli Lilly and Company announced a definitive agreement to acquire Centessa Pharmaceuticals for up to $7.8 billion, marking a major expansion into sleep medicine.
- Expanding its neuroscience capabilities, Lilly targets treatments for excessive daytime sleepiness and related sleep-wake disorders through Centessa's orexin receptor pipeline.
- Under the deal, Lilly will pay $38 per share in cash, representing an upfront equity value of approximately $6.3 billion plus $1.5 billion in contingent value rights tied to FDA approvals.
- The transaction is expected to close in the third quarter, subject to approval by Centessa shareholders and sanction by the High Court of Justice of England and Wales.
- Centessa's lead candidate cleminorexton has demonstrated promise in Phase 2a studies, with contingent payments up to $9 per share tied to FDA approvals for narcolepsy and idiopathic hypersomnia by January 1, 2030.
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Lilly expands neuroscience portfolio with Centessa acquisition
INDIANAPOLIS (WISH) — Indianapolis-based Eli Lilly and Co. on Tuesday announced plans to acquire United Kingdom-based Centessa Pharmaceuticals in a deal worth up to $7.8 billion. Centessa is developing a new class of medicines targeting the brain’s sleep-wake cycle. Its lead drug candidate is aimed at treating conditions including narcolepsy and excessive daytime sleepiness. Lilly says the acquisition will accelerate development of these therapi…
·Indianapolis, United States
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Coverage Details
Total News Sources21
Leaning Left3Leaning Right1Center8Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 25%
C 67%
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