Eli Lilly and Company is in advanced discussions to acquire Ventyx Biosciences for more than $1 billion, according to a Wall Street Journal report citing people familiar with the matter.
The potential transaction could be announced as soon as this week, the report said, triggering a sharp market reaction. Shares of Ventyx jumped more than 50% in extended trading, reflecting investor expectations that a deal is nearing completion.
If finalized, the acquisition would add a slate of inflammation and neurology assets to Lilly’s pipeline, including experimental drugs for inflammatory bowel diseases (IBD) such as Crohn’s disease and ulcerative colitis, as well as programs targeting Parkinson’s disease. One of Ventyx’s mid-stage candidates is also being studied for a cardiovascular condition linked to obesity, aligning with Lilly’s broader push across cardiometabolic disease.
Neither company confirmed the talks. Lilly told Reuters that it does not comment on business development activity, while Ventyx did not immediately respond to a request for comment.
Strategically, the reported talks fit Lilly’s recent pattern of pipeline expansion through targeted M&A and partnerships, particularly in immunology, inflammation, and metabolic disease. Over the past year, the company has struck multiple discovery and licensing deals while continuing to scout for later-stage assets that can complement its internal R&D engine.
For Ventyx, a sale would mark a rapid pivot from standalone development to full integration with a big-pharma partner. The biotech has worked to rebuild momentum after mixed clinical results in earlier programs, repositioning its pipeline around inflammatory and neurological indications with clearer commercial potential.
The size of the rumored deal underscores how competitive the market remains for clinically relevant immunology assets, even as capital markets stay selective. Large pharmas with strong balance sheets, like Lilly, are increasingly willing to pay premium valuations for programs that can slot into existing franchises rather than betting on broad platform acquisitions.
Related news
Ikarovec Eyes $1B Deal to Move Eye Gene Therapy In-Office
If confirmed, the acquisition would add to a growing list of Lilly dealmaking headlines in early 2026, reinforcing the company’s reputation as one of the most aggressive and well-capitalized buyers in biopharma.
Investors are watching closely. With Ventyx shares already pricing in a takeout, the next signal will be whether Lilly moves from talks to a signed agreement, and at what final valuation.
