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Lilly jumps the gun with Dermira deal

The $1.1bn that Lilly is paying for lebrikizumab looks low ball, but competing against Dupixent will not come cheap. And then there are the Roche payments.

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Hologic burns its aesthetics unit

Cynosure’s technology seems to have been better at destroying value than it was at destroying fat – Hologic has sold the business for a tenth of the purchase price.