Stiefel acquires rights to hand eczema treatment Toctino

Stiefel and parent company GlaxoSmithKline have announced the acquisition of Toctino, a once-daily oral retinoid treatment for hand eczema.

Toctino is the only prescription medicine specifically approved for the treatment of severe chronic hand eczema unresponsive to potent topical steroids in adults and is available in 14 countries, generating global sales of 22 million pounds in 2011.

The deal will see Stiefel pay an initial fee of 146 million pounds to manufacturer Basilea Pharmaceutica, with further payments of up to 50 million pounds dependent on the drug's approval and successful commercialisation in the US.

It provides Stiefel with a proven product addressing an area of significant unmet medical need.

Simon Jose, president of Stiefel, said: "This acquisition gives us an immediate opportunity to develop and expand the availability of this new and innovative product of value and reinforces Stiefel and GlaxoSmithKline's commitment to dermatology."

Stiefel is a global leader in the dermatology sector and has been in operation for 165 years, becoming part of the GlaxoSmithKline group in 2009.