Pharmaceutical Market Europe • April 2026 • 6
NEWS
Lilly to acquire Centessa in deal worth up to $7.8bn
Eli Lilly has agreed to acquire Centessa Pharmaceuticals in a deal worth up to $7.8bn. Centessa is a clinical-stage company focused on developing treatments for excessive daytime sleepiness and other neurological conditions.
Designed to treat narcolepsy and other sleep-wake disorders, Centessa is advancing a pipeline of orexin receptor 2 (OX2R) agonists.
The company’s lead candidate, cleminorexton (formerly ORX750), demonstrated a potential best-in-class profile in phase 2a clinical studies across narcolepsy type 1, narcolepsy type 2 and idiopathic hypersomnia.
Carole Ho, executive vice president and president of Lilly Neuroscience, said: “Orexin receptor biology represents one of the most compelling mechanistic opportunities in neuroscience as a direct intervention on the master switch of the sleep-wake cycle.
Mario Alberto Accardi, CEO of Centessa and founder of the Orexin Program, said: “By combining Centessa’s team and capabilities with Lilly’s global complementary research, clinical, regulatory and commercial capabilities, we will seek to accelerate the advancement of our orexin portfolio across a broad range of neuroscience indications for the benefit of patients in need.”
The transaction is expected to close in the third quarter of 2026.
Gilead to acquire Tubulis in deal worth up to $5bn
Gilead has agreed to acquire Tubulis, a private, clinical-stage biotechnology company focused on developing next-generation antibody-drug conjugates (ADCs).
As part of the agreement, Gilead will pay $3.15bn upfront, with an option of up to $1.85bn in milestone payments.
Daniel O’Day, Chairman and CEO of Gilead, said: “The agreement to acquire Tubulis is a significant milestone in Gilead’s progress in oncology. The company brings a clinical-stage candidate that is a potential new treatment for ovarian cancer, as well as a next-generation ADC platform and a promising early pipeline.
“Today’s agreement follows a two-year collaboration with Tubulis, which has given us strong conviction in their programmes and research capabilities. Bringing this potential into Gilead would further expand what is already the strongest and most diverse pipeline in our company’s history.”
Tubulis’ lead asset, TUB-040, being developed to treat platinum-resistant ovarian cancer and non-small cell lung cancer (NSCLC), is currently in phase 1b/2 trials and will be added to Gilead’s oncology pipeline.
TUB-030, a 5T4-targeted ADC, will also be included in the acquisition. The treatment has shown promising initial clinical data across various solid tumour types.
Biogen to acquire
Apellis in $5.6bn deal
Biogen has agreed to acquire Apellis Pharmaceuticals for approximately $5.6bn. The acquisition is expected to close in the second quarter of 2026.
The deal includes two commercialised, differentiated immunology and rare disease medicines, Empaveli (pegcetacoplan) and Syfovre (pegcetacoplan injection) that will add immediate sales revenue to Biogen, increasing the company’s short- and long-term revenue growth profile.
In 2025, the two medicines reached a combined net sales of $689m, a figure that is expected to increase over the next two years.
Empaveli has been approved by the US FDA to treat rare immune-mediated kidney diseases and PNH. Syfovre is FDA-approved for geographic atrophy secondary to age-related macular degeneration, an immune-mediated retinal disease.
Apellis has established US sales infrastructure and capabilities, which Biogen believes will accelerate its commercial readiness for felzartamab, a treatment for three kidney diseases currently in phase 3 trials.
Christopher Viehbacher, Biogen’s President and CEO, said: “The addition of Apellis expands our growth portfolio in immunology and rare disease with two approved, best-in-class medicines that complement our existing portfolio and bolsters our near-and long-term growth potential.”
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