Posted on 21/04/2009 in Pharmaceutical Company Restructures Stiefel and GlaxoSmithKline (GSK) will create a "leading company in global dermatology", it has been claimed.
The former's chairman and chief executive officer Charles W Stiefel made this comment after it was announced GSK had acquired the firm for a value of up to $3.6 billion (2.47 billion pounds).
He said the new business would have a strong presence in the prescription, aesthetic and consumer skin health markets.
By expanding its customer base, the deal will increase the value of the dermatology business' pipeline, which includes brands such as Duac, Olux E and Soriatane, Mr Stiefel remarked.
"It also gives GSK access to one of Stiefel's greatest assets - its valued relationships and shared understanding with dermatologists around the world," he concluded.
Chief executive officer of GSK Andrew Witty added he is looking forward to working with the business to "develop this exciting opportunity".
Last month, Stiefel asserted it was proud to add Impruv Dry Skin Products to its consumer product portfolio.
The range is designed to meet the needs of people with dry and sensitive skin, explained Shayne Sundholm from the company.Other news stories from 21/04/2009
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