Eli Lilly Gets Skin in the Eczema Game With $1.1B Deal for Dermira

▤ Summary

And shares of Dermira had more than doubled last March after the Menlo Park, CA, firm released positive Phase 2b data for lebrikizumab, a drug viewed as a potential competitor to an atopic dermatitis drug sold by partners Regeneron Pharmaceuticals (NASDAQ: REGN) and Sanofi (NYSE: SNY) that is on its way to blockbuster status. Atopic dermatitis is the most common and severe form of eczema, an inflammatory skin condition that causes rashes, redness, and chronic itching. Treatment for atopic dermatitis include creams and lotions to treat dryness, and topical steroids to reduce inflammation and itching. According to terms of that licensing deal, Dermira must pay Roche milestone payments tied to developmental progress of the drug, plus royalties from sales if it reaches the market. Dermira’s board has already approved the deal but if for any reason the company pulls out of the agreement, it would owe Lilly a $40 million termination fee, according to securities filings.

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