GSK Completes Acquisition of Stiefel Laboratories

GlaxoSmithKline, a British drugmaker, has completed its acquisition of Stiefel Laboratories, a US-based skin care pharmaceutical company.

GlaxoSmithKline (GSK) has acquired the total share capital of Stiefel for a cash consideration of $2.9 billion. GSK also assumed $0.4 billion of net debt.

Under the terms of the agreement, GSK may be obligated to make additional cash payments of up to $0.3 billion depending on the future performance of the business. The new dermatology business unit within GSK will operate under the name Stiefel, a GSK company.

 

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