British-based pharmaceuticals firm GlaxoSmithKline PLC is in talks to buy privately-owned US skincare specialist Stiefel Laboratories, a source familiar with the situation said on Sunday
It was unclear whether a deal for the firm would be reached, the source said. The source declined to be identified because the talks are not public.
The Wall Street Journal earlier reported that a $3 billion deal for Stiefel, part-owned by buyout firm Blackstone Group, is expected to be announced on Monday. The Journal also said there is still a chance it could fall apart.
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 Journal said the business had drawn interest from a number of major drug companies, including Johnson & Johnson and Novartis AG.
| NIFTY 
