- Fortress Biotech Inc's 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 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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