WASHINGTON (Reuters) – GlaxoSmithKline (GSK.L) received U.S. antitrust approval to buy privately-held skincare company Stiefel Laboratories Inc, U.S. officials said on Tuesday.
Antitrust authorities completed their review of the deal worth as much as $3.6 billion without taking any action to block it, the U.S. Federal Trade Commission said in a notice.
In April, Glaxo said it planned to buy Stiefel to diversify its business by adding treatments for acne, dermatitis and other skin problems. Stiefel is partly owned by buyout firm Blackstone Group (BX.N) and is the world’s biggest independent dermatology company.
(Reporting by Julie Vorman; Editing by Derek Caney)