LLY · 10-Q · 2026Q3 · Full report
Acquisition / Partnership / Divestiture
ELI LILLY & Co · 2026-10-29 · Importance 64 · Surprise 42 · In source text
Lilly paid $18.2 billion for business development activity during the first nine months of 2026, primarily for Centessa, Kelonia, AtaiBeckley, Orna, Ventyx, Curevo, and Ajax. In October 2026, the company acquired Merida for up to $2.9 billion, including upfront consideration and potential clinical and regulatory milestone payments. The company also said it issued $9.0 billion of long-term debt in May 2026 and used part of the proceeds to fund upfront cash consideration and related costs for Centessa and Kelonia.
Key facts
- In October 2026, Lilly acquired Merida for up to $2.9 billion in aggregate, including an upfront payment and additional potential payments tied to clinical and regulatory milestones. source
- Lilly paid $18.2 billion for business development activity during the nine months ended September 30, 2026, primarily for the acquisitions of Centessa, Kelonia, AtaiBeckley, Orna, Ventyx, Curevo, and Ajax. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -12.3% | Lilly paid $18.2 billion for business development activity during the nine months ended September 30, 2026, primarily for the acquisitions… |
| cash | negative | committed | -0.8% | In October 2026, Lilly acquired Merida for up to $2.9 billion in aggregate, including an upfront payment and additional potential payments… |