Company news from the 10/24/06 News Brief

Dermatology focused pharmaceutical company Stiefel Laboratories announced it has purchased prescription dermatolgical foam manufacturer Connetics Corporation for $640 million. Connetics will merge into a unit of Stiefel after the transaction closes. Stiefel will have more than 3,500 employees following the close of the deal later this year or in early 2007. Takeda Pharmaceuticals’ North American arm has opened a new, 70-acre corporate home office in Deerfield, IL.