Eli Lilly will acquire Dermira, a biopharma company dedicated to developing therapies for chronic skin conditions, for approximately $1.1 billion.
The deal will give Lilly California-based Dermira's one marketed product, Qbrexza, a medicated cloth to treat excessive underarm sweating, as well as the Phase 3 atopic dermatitis drug, lebrikizumab.
"The acquisition of Dermira is consistent with Lilly's strategy to augment our own internal research by acquiring clinical phase assets in our core therapeutic areas and leveraging our development expertise and commercial infrastructure to bring new medicines to patients," said Patrik Jonsson, Lilly senior vice president and president of Lilly Bio-Medicines.
The transaction is not subject to any financing condition and is expected to close by the end of the first quarter of 2020.
Read the press release