Eli Lilly acquires Centessa, pharma stocks surge
6.7 Investments Eli Lilly acquires Centessa for up to $7.8B, boosting Centessa stock 46%. Protagonist, Guardian, and Pfizer stocks hit record highs, reflecting strong sector momentum.
Eli Lilly has agreed to acquire Centessa Pharmaceuticals for $38 per share in cash, valuing the deal at about $6.3 billion. The total value could reach $7.8 billion if a contingent value right of $9 per share is paid. Following the announcement, Centessa's U.S.-listed stock surged 46% in premarket trading, reaching an all-time high of $40.03 and marking a 108.47% increase over the past year. The acquisition centers on Centessa's pipeline for sleep-wake disorder treatments, a new area for Lilly. Meanwhile, Protagonist Therapeutics stock hit a record $105.71, up 125.11% year-over-year, and Guardian Pharmacy Services reached an all-time high of $38.16, reflecting an 80.25% annual gain. Pfizer's stock also achieved a 52-week high at $27.99, with a 17.54% annual return, supported by positive clinical trial results for its Lyme disease vaccine candidate. These developments highlight robust performance and strong investor confidence across the pharmaceutical sector.
