GlaxoSmithKline in Dermatological Divestiture to ALTANA
October 6, 2005
Cleary Gottlieb represented GlaxoSmithKline on antitrust aspects of the recent sale of its U.S. prescription dermatology business to ALTANA Inc., a specialty pharmaceutical manufacturer of topical dermatological products.
ALTANA Inc. is one of two U.S. subsidiaries of ALTANA Pharma AG, an international pharmaceutical company headquartered in Germany. PharmaDerm, a division of ALTANA Inc, will manufacture and market the former GSK products, including Aclovate®, a synthetic corticosteroid; Cutivate® and Temovate®, both anti-inflammatories; Emgel®, an antibiotic; and Oxistat®, an anti-fungal.
Cleary has a long-standing relationship with GlaxoSmithKline, having served as antitrust counsel to SmithKlineBeecham in its merger with Glaxo Wellcome, which, at the time, was the largest pharmaceutical merger in history. Cleary recently represented GSK on its $500 million acquisition of Corixa and is currently representing GSK on its $1.4 billion acquisition of ID Biomedical Corporation.