In active shopping mode, Eli Lilly plots one deal per quarter as it scouts 'Dermira-like' assets up to $5B
By delivering the only M&A news in a relatively muted deal scene at JP Morgan, Eli Lilly distinguished itself as an active buyer right at the start of the year. And, according to its CFO, you can expect more to come in the year ahead.
Lilly kicked off the annual confab — prime time for Big Pharma players to stake their claims in key areas — on the Friday before the action got going in San Francisco with the announcement that it’s bagging Dermira for $1.1 billion. The biotech had a commercial product and a suite of preclinical dermatology programs, but the crown jewel was undoubtedly the late-stage IL-13 drug lebrikizumab.
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