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GlaxoSmithKline nears $3 billion deal for Stiefel: report


    NEW YORK (Reuters) - GlaxoSmithKline PLC is close to a deal to buy U.S. skincare specialist Stiefel Laboratories for about $3 billion, the Wall Street Journal said on its website on Sunday, citing unnamed sources.

    The deal for Stiefel, which is partly owned by private equity firm Blackstone Group , is expected to be announced on Monday, the report said, adding there is still a chance it could fall apart.

    A person familiar with the matter told Reuters a month ago that Stiefel was considering selling itself and had asked Blackstone to seek offers for the business.

    Stiefel is the world's largest independent dermatology company and is viewed as a potentially attractive asset for major drugmakers, industry experts have said.

    The source had told Reuters that Blackstone and the company's family owners were seeking a speedy sale.

    The Wall Street Journal, which had first reported news of the possible sale last month, said the business had drawn interest from a number of major drug companies, including Johnson & Johnson and Novartis AG .

    (Reporting by Jui Chakravorty Das; Editing by Jan Paschal)