Leo Pharma Confirms $760 Million Skin Deal with Pellepharm (1)

Leo Pharma A/S is acquiring a minority stake in U.S.-based PellePharm in a deal worth as much as $760 million as the Danish drugmaker expands in rare skin diseases.

According to Thorsten Thormann, vice president of research, Leo Pharma will buy the rest of PellePharm if results are positive from a late-stage trial of its most promising treatment for a disease that can lead to skin cancer. The Danish drugmaker’s also on the lookout for more acquisitions, he said.

PellePharm “is a late-stage opportunity,” Thormann said by phone. “We only need this final clinical trial before we can move it ...