GSK buys derm firm Steifel

Share this article:
GlaxoSmithKline is buying dermatology specialist Steifel for $3.6 billion.

The acquisition, announced just days after the rollout of its HIV joint venture with Pfizer, gives GSK a broadened dermatology portfolio accounting for 8% of the global market, with combined revenues estimated at $1.5 billion, and Steifel's specialty sales force.

Steifel products include Duac, for acne, Olux E for dermatitis and Soriatane for severe psoriasis, along with 15 products in late-stage development. GSK derm brands include Bactroban, Cutivate and Altabax. The GSK and Steifel brands would be combined in a global specialist group under the Steifel name, led by Steifel chairman and CEO Charles Steifel.

“As part of our strategy to grow and diversify GSK's business, we are continuing to make new investments through targeted acquisitions,” said GSK CEO Andrew Witty. “This transaction will create a new world-leading specialist dermatology business and re-energize our existing dermatology products.”

On Thursday, GSK and Pfizer announced a deal to combine their HIV businesses into a new company in which GSK will initially hold an 85% equity stake and Pfizer 15%.
Share this article:
You must be a registered member of MMM to post a comment.

Email Newsletters

More in News

Five things for Pharma Marketers to know: Friday, August 29

Five things for Pharma Marketers to know: Friday, ...

Takeda closes out a good-news, bad-news kind of week, AstraZeneca adds a new clinical trial for its experimental PD-1, and researchers link a funeral to the Ebola outbreak.

Amgen sends PCSK9 to FDA

Amgen sends PCSK9 to FDA

Evolocumab holds the FDA's first filed biologics license application for the class.

Consultants expect M&A tempo to continue

Consultants expect M&A tempo to continue

PwC anticipates that divestitures will fuel late-2014 deals, but notes that the noise around early deals and the financials don't fully match up.