Pharmaprojects R&D Pipeline News Feed
GlaxoSmithKline to acquire Stiefel Laboratories
9 Apr 2009
Industry heavyweight GlaxoSmithKline is to acquire the family-run specialty dermatology company Stiefel Laboratories for
US$3.6 billion. Although not quite in the realm of the Pfizer/Wyeth or Merck/Schering-Plough megadeals which have recently
changed the face of the industry, the acquisition ties in with GSK's stated aims of diversifying and enhancing their
business through smaller, more strategic deals.
Stiefel will retain its name and be joined with GSK's existing dermatology business. The combined operation will significantly boost GSK's presence in the skincare sector, giving it approximately 8% of the global dermatology market. The deal also enhances GSK's rather threadbare dermatology pipeline (Graph 1), bringing significantly more clinical-stage projects (Graph 2) including two Phase III compounds which Stiefel itself acquired through the acquisition of another specialty dermatology company, Barrier Therapeutics, last year.
The deal seems like a sound move by GSK, enhancing its presence in an area in which it was previously relatively weak, and helping to provide a steady income stream for the near future. The deal has been approved by stockholders and is expected to close in the third quarter.
