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Stiefel to acquire Barrier

June 24, 2008 12:58 AM UTC

Stiefel (Coral Gables, Fla.) will acquire fellow dermatology company Barrier (NASDAQ:BTRX) in a tender offer for $4.15 per share, or about $148 million in cash. The price is a 136% premium to Barrier's close of $1.76 on June 20, the last trading day before the deal was announced. Stiefel gains three products marketed in the U.S.: Vusion miconazole, a topical cream made of 0.25% antifungal miconazole nitrate in a zinc oxide petrolatum base to treat infants and children with diaper dermatitis complicated by candidiasis; Xolegel ketoconazole, a topical gel formulation of 2% ketoconazole to treat seborrheic dermatitis; and Solage, a mequinol 2% and tretinoin 0.01% topical solution to treat solar lentigines (age spots). ...