Centessa hits record high on up to $7.8 billion Eli Lilly buyout

Centessa Pharmaceuticals

31/03/2026 16:01

Updates

** U.S.-listed shares of Centessa Pharmaceuticals CNTA.O, 260y.F rise 44.4% to an all-time-high of $39.83

** Eli Lilly LLY.N to buy Boston- and London-based drug developer for up to $7.8 billion

** Upfront cash consideration represents an aggregate equity value of about $6.3 billion, with an additional ~$1.5 billion to be contingent on certain milestones, say companies

** Acquisition will expand LLY's neuroscience portfolio and capabilities in sleep medicine

** "We think LLY for CNTA makes sense, but see possibility other bidders could step in" given CNTA's best-in-class profile, says Oppenheimer analyst Kostas Biliouris

** Shares of Lilly up 2.7% at $910.60

** The deal is expected to close in the third quarter

** As of last close, CNTA was up 10.3% YTD

(Reporting by Puyaan Singh and Kamal Choudhury)

((Puyaan.Singh@thomsonreuters.com;))