Lilly to spend up to $7.8 billion to acquire Centessa, a maker of experimental sleep disorder drugs

Lilly Chair and CEO Dave Ricks speaks during a press conference for Eli Lilly and Company in Houston, Texas, U.S., Sept. 23, 2025.Eli Lilly has agreed to pay up to $7.8 billion to acquire Centessa Pharmaceuticals and its experimental drug for excessive daytime sleepiness, the company said Tuesday.Centessa is one of several companies working on a new class of drugs to treat narcolepsy, a condition that makes it difficult for people to stay awake during the day. The drugs may also be used to treat other neuro ...