Lilly Buys Dermira
Lilly buys Dermira.
Eli Lilly and Company buys Dermira for $1.1 billion.
Dermira is a biopharmaceutical firm dedicated to evolving new therapies for chronic skin conditions. This deal opens out Lilly's immunology conduit by adding lebrikizumab, a new monoclonal antibody designed to bind IL-13 with high affinity. It’s being evaluated in a Phase 3 clinical trial for the healing of moderate-to-severe atopic dermatitis in teenagers and adults. The FDA granted lebrikizumab a Fast Track label in December. The purchase of Dermira also opens out Lilly's portfolio of marketed dermatology remedies by adding QBREXZA, an FDA approved curative cloth for the topical care of uncontrolled extreme underarm sweating.
Patrik Jonsson of Lilly said: ‘People suffering from moderate-to-severe atopic dermatitis have significant unmet treatment needs, and we are excited about the potential that lebrikizumab has to help these patients. 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 ability and commercial infrastructure to bring new medicines to patients. This acquisition provides an opportunity to add a promising Phase 3 immunology compound for atopic dermatitis, while also adding an approved dermatology treatment for primary axillary hyperhidrosis. We look forward to completing the acquisition and continuing Dermira's work.’
Tom Wiggans of Dermira said: ‘Since Dermira's start, we have been focused on applying strong science to medical dermatology with the goal of finding new ways to treat some of the most common skin conditions that affect millions of people every year. We are happy that Lilly has recognized the progress we have made and the opportunities for lebrikizumab and QBREXZA. We share with Lilly a common interest in helping patients through the development of creative treatments and believe that patients and physicians will benefit from the resources that Lilly can bring to maximize the potential of our programs. We also believe this proposed transaction is in the best interests of Dermira and our stockholders and affirms the dedication and important groundwork established by Dermira's talented employees since the founding of the company nearly 10 years ago.’
Evercore served as financial advisor to Lilly. Weil, Gotshal & Manges served as legal advisor.
Citigroup and SVB Leerink served as financial advisors to Dermira. Fenwick & West served as legal advisor.
Eli Lilly and Company buys Dermira for $1.1 billion.
Dermira is a biopharmaceutical firm dedicated to evolving new therapies for chronic skin conditions. This deal opens out Lilly's immunology conduit by adding lebrikizumab, a new monoclonal antibody designed to bind IL-13 with high affinity. It’s being evaluated in a Phase 3 clinical trial for the healing of moderate-to-severe atopic dermatitis in teenagers and adults. The FDA granted lebrikizumab a Fast Track label in December. The purchase of Dermira also opens out Lilly's portfolio of marketed dermatology remedies by adding QBREXZA, an FDA approved curative cloth for the topical care of uncontrolled extreme underarm sweating.
Patrik Jonsson of Lilly said: ‘People suffering from moderate-to-severe atopic dermatitis have significant unmet treatment needs, and we are excited about the potential that lebrikizumab has to help these patients. 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 ability and commercial infrastructure to bring new medicines to patients. This acquisition provides an opportunity to add a promising Phase 3 immunology compound for atopic dermatitis, while also adding an approved dermatology treatment for primary axillary hyperhidrosis. We look forward to completing the acquisition and continuing Dermira's work.’
Tom Wiggans of Dermira said: ‘Since Dermira's start, we have been focused on applying strong science to medical dermatology with the goal of finding new ways to treat some of the most common skin conditions that affect millions of people every year. We are happy that Lilly has recognized the progress we have made and the opportunities for lebrikizumab and QBREXZA. We share with Lilly a common interest in helping patients through the development of creative treatments and believe that patients and physicians will benefit from the resources that Lilly can bring to maximize the potential of our programs. We also believe this proposed transaction is in the best interests of Dermira and our stockholders and affirms the dedication and important groundwork established by Dermira's talented employees since the founding of the company nearly 10 years ago.’
Evercore served as financial advisor to Lilly. Weil, Gotshal & Manges served as legal advisor.
Citigroup and SVB Leerink served as financial advisors to Dermira. Fenwick & West served as legal advisor.
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