Reports: Stiefel for Sale

Stiefel Laboratories, a Coral Gables, Fla. dermatology products firm with a research and development facility in Research Triangle Park, is seeking a buyer, according to reports last week in the Wall Street Journal and the Reuters news agency.

The reports indicate potential buyers of the privately held company include GlaxoSmithKline, with U.S. headquarters in RTP, as well as Johnson & Johnson, Novartis, Abbott Laboratories, Sanofi-Aventis and Allergan.

The reports said Stiefel has asked Blackstone Group, a private equity firm that invested $500 million in Stiefel two years ago, to shop for offers. Reuters estimated that the 160-year-old Stiefel could sell for $3 billion or more.

Thu, 03/26/2009 - 04:00