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:

Email Newsletters

More in News

Star Group merges with Vox Medica, Calcium NYC

Star Group merges with Vox Medica, Calcium NYC

The newly formed group will be known as Calcium with Steve Michaelson, formerly of Rosetta Wishbone, at the helm.

Survey finds pay doesn't make doctors happy

Survey finds pay doesn't make doctors happy

Medscape's survey of over 24,000 physicians found that a paycheck is not necessarily linked to a physician's professional satisfaction.

CDC sees declines in some diabetes complications

CDC sees declines in some diabetes complications

Centers for Disease Control data shows that diabetes complications including heart attack and amputation fell in the twenty years between 1990 and 2010. The bad news: the number of diagnosed ...