logo
Plus   Neg
Share
Email

Lilly To Acquire Dermira In $1.1 Bln Deal - Quick Facts

Eli Lilly and Co. (LLY) agreed to acquire Dermira Inc. (DERM) for $18.75 per share, or about $1.1 billion, in an all-cash transaction.

The purchase price represents a premium of about 86 percent to the 60-day volume-weighted average trading price of Dermira's stock ending on January 9, 2020, the last trading day before the announcement of the transaction.

Lilly expects to close Dermira deal by the end of the first quarter of 2020.

Dermira's Board recommended its stockholders to tender their shares in the tender offer. In addition, certain Dermira stockholders, beneficially owning about 13 percent of Dermira's outstanding common stock, have agreed to tender their shares in the tender offer.

Dermira is a biopharmaceutical company that is developing new therapies for chronic skin conditions.

Lilly noted that it will provide an update to its 2020 financial guidance, including the expected impact from the acquisition of Dermira, as part of its fourth-quarter financial results announcement on January 30, 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The Federal Trade Commission (FTC) is in the process of sending out refund checks to consumers who were allegedly misled by Office Depot, Inc. and its software provider Support.com, Inc., into buying computer repair products and services. Out of $34 million, being the total amount of checks, Office Depot paid $25 million and Support.com paid $10 million as part of 2019 settlement. Gap Inc. partnered with fashion resale platform thredUP to facilitate the exchange of secondhand cloths. The retailer in a blog post said its customers can bring secondhand clothes in exchange for shopping credit that can be redeemed at Gap, Banana Republic, Athleta, or Janie and Jack. Customers who redeem their credits at Gap brands will receive an additional 15 percent payout bonus. Coca-Cola Co. (KO) on Friday reaffirmed its guidance for the full-year 2020 and provided an update on the expected impact from COVID-19 on first quarter 2020 results, ahead of its presentation at the Consumer Analyst Group of New York (CAGNY) Conference. For fiscal 2020, the company continues to project...
Follow RTT
>