WSJ: Big Pharma eyeing Stiefel Labs for major deal

While analysts are still salivating over the megamergers prospects, some Big Pharma companies are still eyeing the "smaller" deals. Sources say Stiefel Laboratories'--owned and operated by the Stiefel family for more than 160 years--is considering selling in a deal worth several billion. Citing "people familiar with the matter," WSJ says that major drug companies have shown interest in acquiring the Florida-based company, including Johnson & Johnson, Novartis and GlaxoSmithKline. Stiefel hopes to sell for $3 billion to $4 billion, sources say.

If there is a deal in the works, Stiefel is keeping quiet about it. In an email to WSJ, a spokeswoman for the company said the company has not decided to sell nor has it received any offers. "Like any business, if we received an offer it would be carefully considered," she added.

Founded in Germany in 1847, Steifel specializes in dermatological products, such as anti-itch creams and acne treatments. Although little financial information is available for the privately held company, WSJ sources say Stiefel has an annual revenue of about $1 billion.  

- check out the WSJ article for more