GSK acquires Stiefel in Lanka
GlaxoSmithKline (GSK) announced the transition of the business of
Stiefel Laboratories in Sri Lanka to GSK consequent to the global
acquisition by GSK of Stiefel was successfully completed in February.
The acquisition combines GSK’s prescription dermatology products with
Stiefel’s portfolio, creating a specialist dermatology business with
revenues of US$ 1.5 billion and an eight percent share of the global
prescription dermatology market.
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GSK Lanka MD Stuart Chapman |
In Sri Lanka, the union of the two largest players in dermatology
gives GSK a market share of 23 percent in this segment, and enables the
company to enhance its scope GSK Sri Lanka Managing Director Stuart
Chapman said.
“GSK now has the opportunity to develop therapeutic areas such as
acne and fungal infections, in addition to its traditional strengths in
dermatology,” Chapman said.
With this acquisition, GSK would seek to be a key player in cosmetic
dermatology, which is emerging as an important area of focus.
The new dermatology business unit which is globally known as
“Stiefel, A GSK Company’ is committed to improve and develop new
treatments.
It comprises a strong development pipeline with more than 15 projects
in late-stage development across a wide variety of dermatological
conditions such as acne, dermatoses and fungal infections.
Champan said the new partnership will enable to offer a better
service to patients in Sri Lanka.
“We will continue to deliver the same superior products and high
level of customer focus that they have come to trust and value from the
Stiefel name,” he said.
Today GSK has one of the most expansive and valued dermatology
product portfolios in the industry and one of the most promising
dermatology pipelines in the world. This partnership allows the Stiefel
Company to be backed by the power of GSK and significantly expand its
presence and potential as the leading dermatology company in the world,
Chapman said.
He said the acquisition provides several opportunities for the two
businesses to learn from each other and to collaborate in ways that will
grow the business and benefit patients.
The partnership will allow the Stiefel Company to gain access to a
broader portfolio of products and new capabilities. |
