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 therapies and expand its neuroscience portfolio.

The deal, already approved by both companies’ boards, is expected to close in the third quarter.

This story is from a script aired on WISH-TV.