GSK completes Stiefel acquisition

Published: 24-Jul-2009
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GlaxoSmithKline (GSK) has completed its US$2.9bn (€2.04bn) acquisition of Stiefel Laboratories. The company also assumed $0.4bn of net debt and may have to make additional payments of up to $0.3bn depending on the future performance of the business. The new dermatology business unit within GSK will operate under the name Stiefel, a GSK company.


GlaxoSmithKline (GSK) has completed its US$2.9bn (Euro 2.04bn) acquisition of Stiefel Laboratories. The company also assumed $0.4bn of net debt and may have to make additional payments of up to $0.3bn depending on the future performance of the business. The new dermatology business unit within GSK will operate under the name Stiefel, a GSK company.

Stiefel had sales of approximately US$900m in 2008. Sales of GSK's prescription dermatology products were almost US$550m. The combined pro forma revenues of US$1.5bn represent an 8% share of the global prescription dermatology market.

Stiefel has more than 15 projects in late-stage development across a variety of dermatological conditions, such as acne, dermatoses and fungal infection.

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  • GlaxoSmithKline
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