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GSK closing Stiefel plants

This article was originally published in The Rose Sheet

Executive Summary

GlaxoSmithKline plans to grow its dermatology sales through its recently acquired Stiefel Laboratories business without the firm's manufacturing facilities in New York and Ireland. In a Nov. 13 e-mail, a Stiefel spokeswoman said GSK's Global Manufacturing & Supply unit will close the Oak Hill, N.Y., and Sligo, Ireland facilities by the end of 2012. Production will continue at the sites until the products are transferred to other facilities, including contract manufacturers. Stiefel said 263 employees work at the Oak Hill plant and 250 at the Sligo site. When GSK acquired Stiefel for $2.9 bil. in cash in April, it said it expected to more than double its dermatology sales to $1.5 billion by creating a global specialist business across Rx and OTC products (1"The Rose Sheet" April 27, 2009)
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