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Pharma Merger

Directors are selling Dermira, a biopharmaceutical company, too cheaply through an unfair process to nonparty Eli Lilly, for $18.75 a share or $1.1 billion, a shareholder claims in federal court.

SAN FRANCISCO — Directors are selling Dermira, a biopharmaceutical company, too cheaply through an unfair process to nonparty Eli Lilly, for $18.75 a share or $1.1 billion, a shareholder claims in federal court.

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