Lilly Completes Dermira Deal
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has completed its acquisition of Dermira Inc. (NASDAQ: DERM). The all-cash deal, valued at $1.1 billion, was first announced last month.
The acquisition expands Lilly’s immunology pipeline as well as its portfolio of dermatology medicines, including a medicated cloth to ease the symptoms of severe underarm sweating.
“We are pleased to complete the acquisition of Dermira, and look forward to continuing their important work to develop new therapeutic options for patients with chronic skin conditions,” said Patrik Jonsson, Lilly senior vice president and president of Lilly Bio-Medicines.
Lilly completed the acquisition of Dermira through the merger of Bald Eagle Acquisition Corp. Through the merger, Dermira is now a wholly-owned subsidiary of Lilly.
Dermira’s common stock will also be removed from the NASDAQ Stock Market.