21st Century & onwards
In 2018, the company acquired Bayer's dermatology unit for an undisclosed amount.[6]
In April 2022, the company appointed Christophe Bourdon as its new CEO.[7] Prior to this, he served as the CEO of Orphazyme A/S.
In January 2023, the company started extensive layoffs[8] (of about 300 of its current employees, or ~5% of the workforce) as a part of major restructuring and reorganization in anticipation of a possibly planned IPO.[9] Because of slimming down of the company's R&D program, new early-stage drug candidates will have to be sourced externally.[10]
In August 2023, it was announced LEO Pharma had entered into a definitive agreement to acquire key assets of the Basking Ridge-headquartered biopharma company, Timber Pharmaceuticals, for $36 million.[11] This transaction included TMB-001, a topical isotretinoin ointment currently under development for the treatment of moderate to severe subtypes of Congenital Ichthyosis (CI), which has no treatment options.[12]
In September 2023, the company announced the implementation of a new capital structure with over 4 billion Danish kroner (approximately $587 million) allocated for business development and mergers and acquisitions.[13] The company is focused on acquiring assets aimed at treating rare dermatological diseases with unmet medical needs.
In February 2024, LEO Pharma announced a net loss of 3.6 billion DKK (equivalent to $528 million) for 2023 due to non-recurring project impairments, tax asset adjustments, and rising interest expenses.[14] It also reported that it had cut its operating costs by 14% and increased its revenues by 7% in 2023.[15]
In February 2025, LEO Pharma reported a net loss of 1.7 billion DKK for 2024 while revenues grew by 10% to 12.4 billion DKK. [16]
