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Home Industry News GlaxoSmithKline may decide Stiefel takeover today

GlaxoSmithKline may decide Stiefel takeover today

20th April 2009

GlaxoSmithKline (GSK) could make an announcement today regarding a decision to buy Stiefel Laboratories, it has been suggested.

Many large pharmaceutical companies showed an interest in the maker of dermatology products, including Sanof-Aventis, when the company went on the market earlier this year, explained the Wall Street Journal.

The possible deal with GSK is now believed to be worth about $3 billion (2 billion pounds), according to the publication.

However, sources told the newspaper there is still a chance the deal could fall through.

Since the beginning of 2009, there has been an assortment of acquisitions in the pharmaceutical market ? such as Pfizer’s pending merger with Wyeth and Merck’s agreement to takeover Schering-Plough.

Last week, GSK and Pfizer announced a joint venture to begin a new HIV business. The firms will hold 85 and 15 per cent respectively of the company.

It is thought the partnership ? which will aim to deliver sizeable improvements to treatments and position itself as having an industry-leading pipeline – will hold a 19 per cent share of the market.

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