PHARMACEUTICALS GSK continues diversification drive with purchase of Stiefel.

The article reports on the acquisition of Stiefel Laboratories by GlaxoSmithKline (GSK), a maker of dermatology dugs as part of its diversification in the U.S. GSK acquires the Stiefel for $2.9 billion plus $400 million in debt and possible $300 million cash payment. Chief executive officer Andrew Witty states that acquisition fits the strategy of the its plan to grow and diversify. GSK is considered one of the big pharmaceutical makers of the industry that ventures in diversification.