Stiefel Laboratories Inc, a company specializing in dermatology, has completed the acquisition of Palo Alto, California-based Connetics Corporation.
The combination of these two companies unites the innovative skin care products and commercial capabilities of Stiefel Laboratories with the advanced therapies and patented drug-delivery technologies of Connetics.
It results in one of the most robust and diverse dermatology product lines in the industry and reinforces the commitment of Stiefel Laboratories to the advancement of dermatology globally. This merger also creates one of the largest dermatology product pipelines in the world, merging technology and development expertise to yield significant advancements in the treatment of skin conditions.
"This deal marks a significant milestone in our company's history," said Charles W Stiefel, chairman and CEO, Stiefel Laboratories. "With the innovative products and cutting-edge technology Stiefel Laboratories acquired through Connetics, we have enhanced our product portfolio and are well on our way to reaching our goal of achieving $1 billion in product sales."
Stiefel said the company is particularly optimistic about the prospect of applying the newly acquired foam-based technologies to its product portfolio.
"Connetics is providing us with delivery technologies and expertise that we can now apply to many of our existing products," said Stiefel. "Ultimately, this will benefit dermatology patients around the world."
According to Bill Humphries, Chief Commercial Officer, Stiefel Laboratories, the company is looking forward to several milestones in 2007.
"In addition to celebrating our 160th anniversary in 2007, we will celebrate the grand opening of a new research and development facility in research triangle park, NC," said Humphries. "Stiefel Laboratories also will launch two novel prescription products using the VersaFoam technology as well as enter the aesthetic dermatology market with Revaléskin in the coming year."
Stiefel Laboratories is the world's largest independent pharmaceutical company specializing in dermatology. The company manufactures and markets a variety of prescription and non-prescription dermatological products.