J&J, Novartis Seen As Suitors for Stiefel Labs

Closely held pharmaceutical maker Stiefel Laboratories is considering selling itself in a deal that could be worth several billion dollars, and the company has drawn interest from Johnson & Johnson(JNJ Quote), Novartis(NVS Quote) and GlaxoSmithKline(GSK Quote), a report says.

Stiefel, which makes anti-itch creams, acne treatments and other dermatological remedies, is hoping to sell itself for about $3 billion to $4 billion, the Wall Street Journal reports, citing people familiar with the matter.

A Stiefel spokeswoman said the company's board hasn't decided to sell the company and hasn't received any offers. "Like any business, if we received an offer it would be carefully considered," the spokeswoman said in an email to the Journal.

Stiefel has been controlled for more than 160 years by the founding Stiefel family, according to the newspaper. Blackstone Group(BX Quote), a private-equity firm, owns a substantial minority stake.

Stiefel has annual revenue of about $1 billion, one person familiar with the company said, the Journal reports.

The newspaper reports Stiefel has entertained offers in the past, but the recent spate of drug deals has renewed interest in the company.

Earlier this month, Merck(MRK Quote) made an offer to buy rival Schering-Plough (SGP Quote) for $41 billion, and Swiss pharmaceutical company Roche announced that it agreed to buy the rest of biotechnology pioneer Genentech(DNA Quote). In January, Pfizer (PFE Quote) announced a deal to buy Wyeth(WYE Quote) for cash, stock and debt valued then at $68 billion.