Stiefel, a GSK company, has entered into an agreement with Welichem Biotech to acquire exclusive development and commercialization rights to the anti-inflammatory agent, WBI-1001, in all territories outside of China, Taiwan, Macao and Hong Kong. WBI-1001 is currently in Phase II development for the treatment of psoriasis and atopic dermatitis. The transaction is subject to approval by Welichem shareholders. Welichem will receive an initial payment of $34 million and is eligible to receive addit...