Eli Lilly has agreed to acquire Centessa Pharmaceuticals for $6.3 billion in a deal that expands the pharmaceutical giant's pipeline into rare neurological conditions. Centessa, a UK-based drug developer, has been conducting a midstage clinical trial of its lead narcolepsy treatment, which addresses a significant unmet medical need.

The acquisition comes as Eli Lilly continues its aggressive expansion strategy, fueled by the blockbuster success of its weight-loss drug. The company has been actively pursuing deals across multiple therapeutic areas, leveraging its strong cash position to diversify beyond its core diabetes and obesity franchises. This marks one of Lilly's largest acquisitions in recent years.

Narcolepsy affects approximately 1 in 2,000 people in the United States, with limited treatment options currently available. Centessa's drug candidate represents a potential breakthrough in managing excessive daytime sleepiness, a hallmark symptom of the condition. The deal underscores Lilly's commitment to addressing rare diseases and expanding its presence in neurology.