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Chemical Week Magazine :: Pharmaceuticals & Fine Chemicals
GSK Inks Deal to Buy Stiefel for $3.6 billion
9:29 AM MDT | April 24, 2009 | DEEPTI RAMESH
GlaxoSmithKline (GSK) says it has signed an agreement to acquire dermatological product firm Stiefel Laboratories (Coral Gables, FL), for about $3.6 billion. The deal calls for GSK and Stiefel to combine their prescription dermatological products and operate the new global business under the Stiefel name within the GSK group. The transaction would create a specialty dermatology business with combined revenues of about $1.5 billion, GSK says. “As part of our strategy to grow and diversify GSK’s business, we are continuing to make new investments...
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