Eli Lilly & Co. LLY, +1.65% announced Friday a deal to buy medical dermatology company Dermira Inc. DERM, +4.47% 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.
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