Eli Lilly announced a $6.3 billion acquisition of Centessa Pharmaceuticals, with potential additional payments of up to $1.5 billion based on regulatory milestones 1 2 The deal values Centessa at $38 per share, representing a 38-41% premium over recent trading prices 1 2 Centessa's lead drug cleminorexton (formerly ORX750) is an oral orexin receptor 2 agonist currently in Phase 2 trials for narcolepsy type 1, narcolepsy type 2, and idiopathic hypersomnia 1 3 Cleminorexton demonstrated best-in-class potential with Phase 1 data showing a statistically significant 22.6-minute delay in sleep onset compared to placebo 6 The acquisition addresses a gap in Lilly's neuroscience pipeline, as the company previously lacked a presence in the sleep disorder market, which represents a multi-billion dollar opportunity 4 Lilly will compete against Takeda, whose OX2R agonist oveporexton is ahead in development with an FDA decision expected in the third quarter of 2026 4 6 The transa...
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