The Wall Street Journal, citing unnamed sources, has said that the deal could be announced as early as today, April 20.
Stiefel, which makes acne treatments and other skin creams, lotions, washes and vitamins, had also reportedly drawn interest from Johnson & Johnson and Novartis AG when it put itself on the block earlier this year.
The company is partly owned by Blackstone Group.
BIG BOOST
If completed, Glaxo's Stiefel purchase would boost the dermatology offerings of Glaxo, which has said it is "alert to potential acquisition opportunities" as current market conditions lead some businesses to sell off assets.
The British drugmaker has been moving to replace falling sales of key older drugs facing generic competition by diversifying into less traditional non-pharmaceutical markets.
Stiefel, which makes acne treatments and other skin creams, lotions, washes and vitamins, had also reportedly drawn interest from Johnson & Johnson and Novartis AG when it put itself on the block earlier this year.
The company is partly owned by Blackstone Group.
BIG BOOST
If completed, Glaxo's Stiefel purchase would boost the dermatology offerings of Glaxo, which has said it is "alert to potential acquisition opportunities" as current market conditions lead some businesses to sell off assets.
The British drugmaker has been moving to replace falling sales of key older drugs facing generic competition by diversifying into less traditional non-pharmaceutical markets.
