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Fortress Biotech's Partner Firm Expands Footprint In Dermatology With Qbrexza Acquisition

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Fortress Biotech's Partner Firm Expands Footprint In Dermatology With Qbrexza Acquisition
  • Fortress Biotech Inc's (NASDAQ: FBIO) partner company Journey Medical Corporation has agreed to acquire Qbrexza (glycopyrronium) in the U.S. from Dermira Inc, a wholly-owned subsidiary of Eli Lilly And Co (NYSE: LLY).
  • The transaction is expected to close early in the second quarter of this year. Qbrexza generated $24 million in net sales in the U.S. in 2020.
  • Qbrexza is FDA approved treatment for primary axillary hyperhidrosis in adult and pediatric populations (ages nine years and older) and is self-administered by patients.
  • Primary hyperhidrosis is a rare disorder characterized by excessive sweating on the hands' palms, the feet' soles, in the armpits (axillary), in the groin area, or under the breasts.
  • Price Action: FBIO shares are up 4.25% at $3.68 in the premarket session on the last check Thursday.
 

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Posted-In: Axillary HyperhidrosisBiotech M&A News Penny Stocks Health Care Small Cap General

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