Navigation Links
Stiefel Laboratories Completes Acquisition of Barrier Therapeutics
Date:8/6/2008

Strategic deal demonstrates commitment to dermatology and innovation

CORAL GABLES, Fla., Aug. 6 /PRNewswire/ -- Stiefel Laboratories, Inc., the world's largest independent pharmaceutical company specializing in dermatology, announced today that it has completed its previously announced acquisition of Princeton, New Jersey-based Barrier Therapeutics, Inc. Upon the closing of the acquisition, all remaining outstanding shares of Barrier common stock, other than those held by stockholders who properly perfect appraisal rights under Delaware law, were converted into the right to receive $4.15 per share in cash. Effective with the close of trading on August 6, 2008, shares of Barrier will no longer be listed on the NASDAQ Global Market.

The combination of Barrier Therapeutics with Stiefel Laboratories unites some of the most exciting assets in the dermatology industry. The acquisition of Barrier broadens Stiefel's extensive product offering with three premium prescription products, making a wider range of treatment options available to physicians and patients under the Stiefel umbrella. It also deepens an already strong Stiefel pipeline of products by adding several promising novel product candidates.

"Barrier's innovative products and pipeline are a very valuable addition to Stiefel," said Charles W. Stiefel, chairman and chief executive officer, Stiefel Laboratories. "The acquisition reinforces Stiefel's promise to provide novel, high-quality, safe and effective products for the treatment of skin diseases and our continued and enthusiastic commitment to advancing the field of dermatology."

In addition to bringing new assets to Stiefel, the acquisition also provides the opportunity for the company to leverage its global footprint for the newly-acquired portfolio.

"Stiefel's worldwide network includes more than 30 subsidiaries around the world, a research and development organization spanning four continents and six manufacturing operations," said Bill Humphries, president, Stiefel Laboratories. "Combining these resources with Barrier's products will benefit more dermatology patients around the world."

"The acquisition greatly expands the possibilities for Barrier's products and pipeline," said Al Altomari, chief executive officer of Barrier Therapeutics. "We are excited about the contributions that can be made in dermatology because of this transaction."

"The product portfolio and pipeline we have created with this acquisition further solidifies Stiefel's position as the worldwide leader in dermatology," Humphries said, "and continues to help us achieve our goal of becoming the most-respected dermatology company in the world."

The Global Headquarters of Stiefel Laboratories will remain in Coral Gables, Fla., and the Marketing and Sales headquarters will remain in Duluth, Ga.

About Barrier Therapeutics

Barrier Therapeutics is a pharmaceutical company focused on the development and commercialization of products in the field of dermatology. Barrier Therapeutics currently markets three pharmaceutical products in the United States: Xolegel(R) (ketoconazole, USP) Gel, 2%, for seborrheic dermatitis; Vusion(R) (0.25% miconazole nitrate, 15% zinc oxide, 81.35% white petrolatum) Ointment, for diaper dermatitis complicated by documented candidiasis; and Solage(R) (mequinol 2.0%, tretinoin 0.01%) Topical Solution, for solar lentigines. Barrier Therapeutics has other product candidates in various stages of clinical development for the treatment of a range of dermatological conditions, including onychomycosis, psoriasis, acne, skin allergies, and acute fungal infections.

Xolegel, Vusion and Solage are trademarks of Barrier Therapeutics.

About Stiefel Laboratories, Inc.

Founded in 1847, Stiefel Laboratories (a privately held company) 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. Some of the newest and best- known brands include Duac(R) Topical Gel (clindamycin, 1% - benzoyl peroxide, 5%) available in the Duac(R) Care System (CS); Evoclin(R) (clindamycin phosphate) Foam, 1%; Luxiq(R) (betamethasone valerate) Foam, 0.12%; MimyX(R) Cream; Olux(R) (clobetasol propionate) Foam, 0.05% and Olux-E(R) (clobetasol propionate) Foam, 0.05% also available in the Olux(R) / Olux-E(R) COMPLETE PACK; Soriatane(R) (acitretin) Capsules available in the Soriatane(R) CK CONVENIENCE KIT; Verdeso(R) (desonide) Foam, 0.05%; Brevoxyl(R)-4 Creamy Wash (benzoyl peroxide 4%) and Brevoxyl(R)-8 Creamy Wash (benzoyl peroxide 8%) packaged in the Brevoxyl(R) Acne Wash Kit; Extina(R) (ketoconazole) Foam, 2%; Oilatum(R) Cleansing Bar; Physiogel(R) Cream; Stieprox(R) (ciclopirox olamine) Shampoo; REVALESKIN(TM) Skin Care Products; and Sarna(R) Lotion. Its wholly-owned global network is comprised of more than 30 subsidiaries, manufacturing plants in six countries, research and development facilities on four continents, and products marketed in more than 100 countries around the world.

Stiefel Laboratories supplements its R&D efforts by seeking strategic partnerships and acquisitions around the world. To learn more about Stiefel Laboratories, Inc. visit http://www.stiefel.com


'/>"/>
SOURCE Stiefel Laboratories, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Stiefel Laboratories, Inc. Announces Expiration of Hart-Scott-Rodino Waiting Period Relating to its Proposal to Acquire Barrier Therapeutics, Inc.
2. Stiefel Laboratories, Inc. Acquires ABR Invent and ABR Development
3. Stiefel Laboratories Appoints First Chief Scientific Officer
4. Stiefel Laboratories, Inc. Appoints New President
5. Caraco Pharmaceutical Laboratories, Ltd. to Market Generic Depakote(R) Delayed Release Tablets
6. ARUP Laboratories and Weber State University Announce Educational Collaboration
7. Roxane Laboratories, Inc. Initiates a Nationwide Voluntary Recall of Two Manufacturing Lots of Sodium Polystyrene Sulfonate Suspension in the US and Puerto Rico
8. Roxane Laboratories, Inc. Announces the Approval of Morphine Sulfate Tablets and Oral Solution
9. Mesa Laboratories, Inc. Named to Fortune Small Business Magazines 2008 List
10. SpectraCell Laboratories Offers Additional Test for Heart Attack and Stroke Risk
11. Mesa Laboratories, Inc. Added to the Russell Microcap Index
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... 25, 2016 , ... Experts from the American Institutes for ... Meeting June 26-28, 2016, at the Hynes Convention Center in Boston. , AIR ... care planning, healthcare costs and patient and family engagement. , AIR researchers will ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, FCPX users ... - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms over 1,300 ... Pro X . Simply select a ProHand generator and drag it above media or ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson ... Recently, he has implemented orthobiologic procedures as a method for treating his patients. ... the first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons ...
(Date:6/24/2016)... Angeles, CA (PRWEB) , ... June 24, 2016 , ... ... surgery procedures that most people are unfamiliar with. The article goes on to state ... procedures, but also many of these less common operations such as calf and cheek ...
(Date:6/24/2016)... ... ... in a crisis. Her son James, eight, was out of control. Prone to extreme mood ... something upset him, he couldn’t control his emotions,” remembers Marcy. “If there was a ... children and say he was going to kill them. If we were driving on ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016  MedSource announced today ... its e-clinical software solution of choice.  This latest ... possible value to their clients by offering a ... preferred relationship establishes nowEDC as the EDC platform ... MedSource,s full-service clients.  "nowEDC has long been a ...
(Date:6/23/2016)... Any dentist who has made an implant supported ... Many of them do not even offer this as a ... laboratory costs involved. And those who ARE able to offer ... high cost that the majority of today,s patients would not ... Zadeh , founder of Dental Evolutions Inc. and inventor of ...
(Date:6/23/2016)... startling report released today, National Safety Council research shows ... plan to eliminate prescription opioid overdoses. Prescription Nation ... the worst drug crisis in recorded U.S. history, assigned a "Making ... , New Mexico , Tennessee ... states, three – Michigan , Missouri ...
Breaking Medicine Technology: