April 21, 2009
London-based GlaxoSmithKline plc agrees to acquire Willkie client Stiefel Laboratories Inc., the world's largest independent dermatology company.
On April 20, it was announced that London-based GlaxoSmithKline plc has agreed to acquire Willkie client Stiefel Laboratories Inc., the world’s largest independent dermatology company, in a deal valued up to $3.6 billion. The newly combined business, with revenues of approximately $1.5 billion, will offer a broad portfolio of dermatology products and operate under the Stiefel identity within the GSK Group. Stiefel, with nearly 3,500 employees worldwide, manufactures and markets a variety of prescription and non-prescription dermatological products in more than 100 countries. GlaxoSmithKline is one of the world’s leading research-based pharmaceutical and healthcare companies. Willkie previously assisted Stiefel in its acquisitions of Barrier Therapeutics and Connetics Corp., as well as in a $500 million investment by Blackstone Group.
The current deal was handled by a multidisciplinary team at Willkie, including partners William Grant, Jr. (Corporate, NY), Gregory Astrachan (Corporate, NY), David Tayar (Antitrust and Competition, Paris), E. Donald Elliott (Environment, Health and Safety, DC), David Rubinsky (Executive Compensation and Employee Benefits, NY), Thomas Meloro (Intellectual Property, NY), Jeffrey Clark (Litigation, DC), Theodore Whitehouse (Litigation, DC), Thomas Henry (Real Estate, NY) and Christopher Peters (Tax, NY); special counsel Jonathan Konoff (Corporate, NY), Kim Walker (Intellectual Property, NY) and David Park (Litigation, NY); and associates Thomas Mark (Corporate, NY), Michael Brandt (Corporate, NY), Gerald Brant (Corporate, NY), Danielle Sheer (Corporate, NY), Daniel Sirkin (Corporate, NY), Ari Altman (Environment, Health and Safety, DC), Bret Cohen (Environment, Health and Safety, DC), Katie Calabrese (Executive Compensation and Employee Benefits, NY), Jordan Messinger (Executive Compensation and Employee Benefits, NY), Dorota Niechwiej Clegg (Intellectual Property, NY), Adrrien Giraud (Litigation, NY), Nikhil Singhvi (Litigation, DC), David Stoltzfus (Litigation, NY), Anthony Tortora (Real Estate, NY) and Meredith Levy (Tax, NY).
