Centessa Pharmaceuticals Agrees To Eli Lilly Acquisition At 40% Premium

Centessa Pharmaceuticals PLC has agreed to be acquired by Eli Lilly and Co for approximately $8 billion, representing a 40% premium over its recent average stock price. The deal includes $6.3 billion in upfront cash and contingent value rights (CVRs) worth up to $1.5 billion based on three FDA approval milestones. Analyst Ami Fadia downgraded Centessa from Buy to Hold, citing limited upside despite the attractive CVR terms. At the time of the announcement, Centessa's shares increased by 0.33% to $39.85.