Eli Lilly is reshaping its obesity dependence narrative by acquiring non-GLP-1 assets, according to details tied to its Q1 2026 business updates. The company’s deal slate since January includes multiple transactions spanning in vivo CAR T, ADC platforms, orexin receptor therapies, and oncology and immunology modalities. Lilly agreed to pay up to $2.4 billion for Orna Therapeutics (in vivo CAR T for autoimmune disease), set terms for a $6.3 billion Centessa Pharmaceuticals acquisition (including orexin receptor 2 agonist assets for sleep-wake disorders), and moved into additional preclinical platforms with CrossBridge Bio (ADC/linker technology) and Kelonia Therapeutics (in vivo CAR T for multiple myeloma). The report also cites an Ajax Therapeutics deal covering a Type II JAK2 inhibitor in Phase I for myelofibrosis. Taken together, Lilly’s acquisition cadence signals an emphasis on pipeline breadth and modality diversification rather than relying exclusively on GLP-1-centric growth.