Stiefel Laboratories is buying Barrier Therapeutics--a developer of dermatology products--in a deal valued at $148 million. Stiefel is paying $4.15 a share for the company. In exchange, Stiefel gets three products on the market and a pipeline of experimental therapies.
"This acquisition demonstrates our continued commitment to advancing the field of therapeutic dermatology," says CEO Charles W. Stiefel. "We are very impressed with Barrier Therapeutics' innovative products and pipeline. This strategic move will further expand our oral and topical product portfolio in development and increase our sales of novel treatments for skin conditions."
- see Stiefel's release
- read the report from the South Florida Business Journal