Lilly Buys Centessa for $7.8 Billion to Fight Sleep Disorders
Eli Lilly is acquiring Centessa in a $7.8 billion deal to develop breakthrough OX2R drugs for narcolepsy, idiopathic hypersomnia, and excessive daytime sleepiness.
Eli Lilly is acquiring Centessa in a $7.8 billion deal to develop breakthrough OX2R drugs for narcolepsy, idiopathic hypersomnia, and excessive daytime sleepiness.
FDA grants Breakthrough Therapy status to alixorexton for narcolepsy type 1. Clinical trials show promising results for daytime wakefulness.
Avadel Pharmaceuticals receives unsolicited $23/share offer from Lundbeck, competing with existing $20/share Alkermes deal. Board reviewing superior proposal.
Truist comments on Alkermes’ Phase 2 Vibrance-2 trial of alixorexton in narcolepsy type 2, noting "limited" details but strong patient engagement and maintaining a Buy rating with a $50 target.
Centessa has great sleep drug data, easing daytime sleepiness. Alkermes stock jumped 7% as its competing drug is still strong.
Alkermes (ALKS) announces $2.1B acquisition of Avadel Pharmaceuticals (AVDL) to gain approved narcolepsy drug Lumryz and enter the growing sleep medicine market. Deal expected Q1 2026.