Eli Lilly to Acquire Centessa Pharmaceuticals for Up to $7.8 Billion

• Eli Lilly & Co. announced an agreement to acquire Centessa Pharmaceuticals Plc for up to $7.8 billion.
• The acquisition aims to expand Eli Lilly's portfolio into treatments for sleep disorders.
• Lilly will pay $38 per share upfront, with an additional $9 if three milestone targets are met.
• The deal represents a 70% premium to Centessa's closing price on Monday.
• Centessa is developing drugs for sleep-wake disorders, including narcolepsy, addressing current treatments' side effects.