UPDATE 1-Eli Lilly to buy Centessa in $6.3 billion deal for sleep medicines

Eli Lilly and Company -1.65%

Eli Lilly and Company

LLY

939.47

-1.65%

Adds details in paragraph 2-3

March 31 (Reuters) - Eli Lilly LLY.N said on Tuesday it would buy Centessa Pharmaceuticals 260y.F in a deal valued at about $6.3 billion to expand into treatments for sleep-wake disorders.

The U.S. drugmaker has offered Frankfurt-listed Centessa $38‑per‑share in cash. Centessa's U.S.-listed shares jumped 46% in premarket trading.

Lilly has also offered one non-transferrable contingent value right (CVR) of about $9, taking the total deal value to up to $7.8 billion.


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