Glaxo to buy Stiefel Labs for up to $3.6 billion

Reuters UK – GlaxoSmithKline Plc, the world’s second-largest drugmaker, has agreed to buy privately owned U.S. skincare specialist Stiefel Laboratories Inc for up to $3.6 billion, the two companies said on Monday.

The acquisition is the latest in a string of deals in the drugs sector, but is significantly smaller than recent mega-mergers, reflecting the British-based group’s declared focus on bolt-on buys to diversify its business.


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