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Eli Lilly to buy Dermira in a deal valued at $1.1 billion
Eli Lilly & Co. announced Friday a deal to buy medical dermatology company Dermira Inc. in a deal valued at $1.1 billion. Under terms of the deal, Lilly will pay $18.75 in cash for each Dermira share outstanding, a 2.2% premium to Thursday's closing price of $18.34. The deal is expected to close by the end of the first quarter of 2020. Lilly said it will provide an update to 2020 guidance, including the expected impact from the Dermira acquisition, when it reports fourth-quarter results on Jan. 30. The deal adds Dermira's dermatitis treatment lebrikizumab, which is being evaluated in a phase 3 clinical development program to its portfolio. Dermira's stock, which was up 0.4% in premarket trading--Lilly shares were still inactive--have more than tripled (up 235%) over the past three months, while Lilly shares have advanced 22.3% and the S&P 500 has gained 11.5%
https://finance.yahoo.com/m/273ddbe.../eli-lilly-to-buy-dermira-in-a.html?.tsrc=rss
Eli Lilly & Co. announced Friday a deal to buy medical dermatology company Dermira Inc. in a deal valued at $1.1 billion. Under terms of the deal, Lilly will pay $18.75 in cash for each Dermira share outstanding, a 2.2% premium to Thursday's closing price of $18.34. The deal is expected to close by the end of the first quarter of 2020. Lilly said it will provide an update to 2020 guidance, including the expected impact from the Dermira acquisition, when it reports fourth-quarter results on Jan. 30. The deal adds Dermira's dermatitis treatment lebrikizumab, which is being evaluated in a phase 3 clinical development program to its portfolio. Dermira's stock, which was up 0.4% in premarket trading--Lilly shares were still inactive--have more than tripled (up 235%) over the past three months, while Lilly shares have advanced 22.3% and the S&P 500 has gained 11.5%
https://finance.yahoo.com/m/273ddbe.../eli-lilly-to-buy-dermira-in-a.html?.tsrc=rss
