Eli Lilly to Buy Dermira for $1.1 Billion

Eli Lilly agreed to buy biopharmaceutical company Dermira, Inc. for $18.75 a share, or approximately $1.1 billion in cash.

Eli Lilly announced it has agreed to buy Dermira, Inc. for $1.1 billion in an all-cash purchase.

The acquisition of the California-based biopharmaceutical company will garner Eli Lilly 2 assets. The first is lebrikizumab, a novel investigational monoclonal antibody designed to bind interleukin 3 (IL-3), which is believed to be a driver of signs and symptoms of atopic dermatitis. Currently in two phase 3 trials for the treatment of moderate to severe atopic dermatitis in adolescent and adult patients age ≥12 years, lebrikizumab was granted Fast Track designation from the US Food and Drug Administration (FDA) in December 2019. In a phase 2b trial lebrikizumab demonstrated dose-dependent improvements across end points spanning the range of atopic dermatitis signs and symptoms, including skin lesions and pruritus, when administered once every 2 or 4 weeks.

Eli Lilly will also gain Qbrexza (glycopyrronium) cloth, an anticholinergic indicated for topical treatment of primary axillary hyperhidrosis in adult and pediatric patients age ≥9 years. The medicated cloth is FDA-approved.

The Indianapolis pharmaceutical company said it expects to complete the acquisition by the end of the first quarter of 2020.

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