Stock Movers Lilly to Buy Centessa Pharmaceuticals; Biogen to Buy Apellis; Unilever Foods Exit
Mar 31, 2026
Big pharma takeover targets and deal mechanics dominate the conversation. Major buyouts in biotech and pharma reshuffle pipelines and market positions. A historic consumer-food divestment and complex cash-and-equity terms get detailed attention. A clinical trial disappointment and its stock fallout round out the market-moving headlines.
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Lilly Deal Adds Contingent Upside To Centessa
- Eli Lilly will acquire Centessa Pharmaceuticals for $38 per share plus a contingent $9 aggregate, creating a potential $47 per-share payout.
- Isabelle Lee highlights the deal structure: cash plus a non-transferrable contingent value right tied to three milestones, lifting Centessa's value and Lilly's pipeline.
Biogen Buys Apellis To Diversify Beyond MS
- Biogen agreed to buy Apellis for $5.6 billion, paying $41 a share to gain two approved drugs in immunology and rare diseases.
- Nathan Hager notes this is part of Biogen's push for growth under a new CEO and to bolster areas beyond declining MS franchises.
Unilever Foods Sale Would Recast Both Companies
- Unilever is in advanced talks to sell most of its food business to McCormick for $15.7 billion cash plus equity, a deal that would reshape both companies.
- Isabelle Lee explains the transaction would recast Unilever toward beauty and home care while making McCormick a global condiments and spices giant, with Unilever retaining majority control (~65%).