Stock Movers Biogen to Buy Apellis; Lilly to Buy Sleep Drug Maker; Nvidia Invests $2 Billion in Marvell
Mar 31, 2026
Big biotech deals take center stage as one company agrees to a $5.6B takeover to broaden its immunology and rare-disease portfolio. A major pharma makes a multi-billion bid for a sleep-drug developer to diversify beyond weight-loss treatments. A tech giant pours $2B into a chip maker to accelerate silicon photonics for more affordable AI infrastructure.
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Biogen Pays For Near-Term Revenue And Kidney Disease Assets
- Biogen will acquire Apellis for $41 a share to gain two approved drugs and boost near-term revenue growth.
- Apellis' leading immune-disorder drug made over $500 million last year and Biogen sees kidney disease as a strategic fit.
Lilly Uses CVRs To Pay For Future Drug Milestones
- Eli Lilly agreed to buy Centessa for $38 a share plus up to $9 a share in contingent value rights tied to milestones.
- The upfront equity value is about $6.3 billion with potential total near $7.8 billion, signaling pipeline expansion beyond weight-loss drugs.
Nvidia Backs Marvell To Lower AI Infrastructure Costs
- Nvidia is investing $2 billion in Marvell as part of a collaboration on silicon photonics for AI infrastructure.
- The deal lets customers combine components from both firms to build semi-custom AI systems and drove Marvell shares up about 9% pre-market.