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GSK buying Reliant

This article was originally published in The Tan Sheet

Executive Summary

GlaxoSmithKline gains Reliant Pharmaceuticals' cardiovascular drug portfolio, including an Rx omega-3-acid ethyl esters product, Lovaza, with its $1.65 billion acquisition of the privately held U.S. firm, according to a Nov. 21 release. Liberty Corner, N.J.-based Reliant generated net sales of $341 million from January through September 2007, a 62 percent increase from the same period in 2006, the firms say. While it is subject to Federal Trade Commission approval, the firms expect the deal to close by year-end. Reliant acquired U.S. rights to Lovaza, which was formerly known as Omacor, from Abbott Labs' Ross Products Division (1"The Tan Sheet" Nov. 29, 2004, p. 10). U.S. sales of the product increased 115 percent in the first nine months of 2007 to $206 million, according to Reliant. However, data submitted by Reliant and Ross on use of the omega-3-acid ethyl esters product along with statins were inadequate to support an indication for combination use, according to FDA (2"The Tan Sheet" March 7, 2005, p. 19)...

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