Eli Lilly (NYSE:LLY) has agreed to acquire Dermira (NASDAQ:DERM) for $18.75 in cash for a total of $1.1B. The transaction should close by quarter-end.
The company markets one product, Qbrexza (glycopyrronium) cloth for the treatment of primary axillary hyperhidrosis (excessive underarm sweating). It generated $10.2M in sales last quarter.
Lead pipeline candidate is Phase 3-stage lebrikizumab for atopic dermatitis.
DERM is up 1% premarket.
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