GSK closing Stiefel plants
This article was originally published in The Tan Sheet
Executive Summary
GlaxoSmithKline will close the Oak Hill, N.Y., and Sligo, Ireland manufacturing facilities of recently acquired Stiefel Laboratories by the end of 2012, a Stiefel spokeswoman said in a Nov. 13 e-mail. Production will continue at the sites until the products are transferred to other facilities, including contract manufacturers. Stiefel said 263 employees work at the Oak Hill plant and 250 at the Sligo site. When GSK acquired Stiefel for $2.9 billion in cash in April, it said it expected to more than double its dermatology sales to $1.5 billion by creating a global specialist business across Rx and OTC products (1"The Tan Sheet" April 27, 2009)