LLY · 10-Q · 2026Q2 · Full report

Acquisition Activity and IPR&D

ELI LILLY & Co · 2026-08-05 · Importance 71 · Surprise 60

Lilly paid $13.3 billion during the first six months of 2026 for business-development activity, primarily acquisitions of Centessa, Kelonia, Orna, Ventyx, and Ajax. In July 2026, Lilly paid approximately $2.0 billion to acquire companies for an infectious-disease portfolio and entered into an agreement to acquire AtaiBeckley for approximately $2.8 billion at closing, subject to conditions. Acquired IPR&D charges in the first half of 2026 were primarily related to Orna and Ajax, while continued regulatory scrutiny of healthcare business combinations may delay or increase the cost of these transactions.

Key facts

• The company paid $13.3 billion in 2026 related to business development activity, and in May 2026 issued $9.0 billion of long-term debt with net proceeds used in part to fund acquisitions including Centessa and Kelonia. source