Navigation Links
GSK to Acquire Reliant Pharmaceuticals

Addition of Lovaza to expand GSK cardiovascular portfolio in US Acquisition

provides sales, synergy benefits

LONDON, PHILADELPHIA and LIBERTY CORNER, N.J., Nov. 21 /PRNewswire- FirstCall/ -- GlaxoSmithKline (LSE: GSK) (NYSE: GSK) and Reliant Pharmaceuticals Inc. announced today that they had reached an agreement under which Reliant will be acquired by GSK for $1.65 billion (800 million pounds Sterling) in cash.

Reliant, a privately held specialty pharmaceutical company focused on cardiovascular therapies, recorded net sales of $341 million in the nine months ending September 30, 2007, an increase of 62% over the comparable time period a year earlier.

GSK expects the transaction will be slightly accretive to earnings in 2008, excluding integration costs, and will create additional value in following years.

Through its strategic in-licensing and development strategy, Reliant has developed a portfolio of specialty medicines combating heart disease, including US rights to Lovaza(TM) (omega-3-acid ethyl esters), a treatment for adult patients with very high levels of triglycerides. Triglycerides are fatty substances in the blood associated with increased risks of coronary artery disease. Lovaza is indicated as an adjunct to diet to reduce triglyceride levels in adults with very high (greater than or equal to 500 mg/dL) triglyceride levels.

High lipid levels continue to be a growing health problem in the United States, with up to 5 million people having triglyceride levels classified as very high. Lovaza is the only prescription omega-3 medicine approved by the US Food and Drug Administration for the treatment of very high triglycerides, and remains the only omega-3 medicine that, along with diet and exercise, has been clinically proven to provide a 45% reduction in triglycerides in adult patients with very high triglyceride levels.

Launched in late 2005, Lovaza (formerly known as Omacor(R)) achieved rapid uptake among patients and health care professionals. In the nine months ending September 30, 2007, net sales were $206 million, an increase of 115% over the first nine months of 2006.

Lovaza competes in the non-statin dyslipidemia segment of the US cardiovascular market, where it had achieved a 10% market share of total prescriptions as of September 30, 2007. Sales in the non-statin dyslipidemia market totaled approximately $2.2 billion in 2006 and are expected to grow in excess of 20% a year. GSK believes there is significant opportunity for future growth of Lovaza in this market segment.

Reliant licensed the rights to Lovaza in the US and Puerto Rico from Pronova BioPharma ASA (Oslo: PRON), a publicly traded Norwegian company that will continue to supply the product's primary material. Rights to Lovaza in other markets have been licensed by Pronova to several other companies.

Commenting on the acquisition agreement, Chris Viehbacher, President, US Pharmaceuticals, GSK, said, "The addition of Lovaza to the GSK portfolio adds a new driver of sales growth in the US business. It represents a strong strategic fit, complementing Coreg CR(R), a leading treatment for heart failure and hypertension, and adds to our growing profile in the cardiovascular disease area."

"Today is a momentous date for Reliant," said Bradley T. Sheares, CEO of Reliant. "We are very proud of the work that our employees have done to build this company, particularly the energy and perseverance of our sales teams, who have demonstrated their worth in building a formidable Lovaza franchise in less than 24 months. We see great additional potential through this acquisition for Lovaza and the patients who could benefit from it."

The acquisition is subject to approval by the US Federal Trade Commission and is expected to conclude before year-end.

In addition to Lovaza, Reliant Pharmaceuticals, based in Liberty Corner, NJ, currently markets three other in-licensed cardiovascular products - high blood pressure treatments DynaCirc CR(R) (isradipine) and InnoPran XL(R) (propanolol HCl), as well as Rythmol SR(R) (propafenone), which treats abnormal heart rhythms, or arrhythmia.

About GSK

GlaxoSmithKline - one of the world's leading research-based pharmaceutical and healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For company information, visit

GlaxoSmithKline forward-looking statements

Under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect GSK's operations are described under 'Risk Factors' in the Operating and Financial Review and Prospects in the company's Annual Report on Form 20-F for 2006.

About Reliant Pharmaceuticals

Reliant Pharmaceuticals, Inc. is a pharmaceutical company that specializes in the development, commercialization and marketing of prescription therapeutic products. Reliant currently markets four cardiovascular products in the United States and focuses on promoting its products to targeted primary care and specialty physicians, as well as selected hospitals and academic centers in the United States. Reliant's sales force infrastructure is comprised of approximately 880 sales and marketing professionals nationwide.

Reliant Pharmaceuticals forward-looking statements

To the extent any statements made in this release contain information that is not historical, these statements are essentially forward looking and are subject to risks and uncertainties, and other factors that may cause Reliant's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond Reliant's control and which could materially affect actual results, levels of activity, performance or achievements.

SOURCE GlaxoSmithKline
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Cogdell Spencer Inc. Acquires Summit Professional Plaza I and II in Brunswick, Georgia
2. Omnicom Acquires Leading Healthcare Marketing Communications Firm in China
3. Food Bank For New York City Acquires FoodChange
4. Planet Technologies Announces Agreement to Acquire Antigen Laboratories
5. Simcere Pharmaceutical Group Acquires a 51% Stake in Boda Pharmaceutical Co., Ltd.
6. UTC Power Acquires Dome-Tech Group
7. AMERIGROUP to Acquire Memphis Health Plan
8. Concentra Acquires Assets of Renew Health & Wellness
9. DaVita Acquires Majority Stake in HomeChoice Partners, Inc.
10. NNN Healthcare/Office REIT Acquires St. Mary Physicians Center in Long Beach, California
11. NNN Healthcare/Office REIT Acquires 2750 Monroe Boulevard in Valley Forge, Pennsylvania
Post Your Comments:
(Date:10/13/2017)... ... October 13, 2017 , ... Coveros, ... Development, has been awarded a contract by the Center for Medicare and Medicaid ... to accelerate the enterprise use of Agile methodologies in a consistent and high ...
(Date:10/12/2017)... , ... October 12, 2017 , ... ... services for healthcare compliance program management, will showcase a range of technology and ... for Assisted Living (NCAL) Convention and Expo to be held October 14–18, 2017 ...
(Date:10/12/2017)... ... 2017 , ... The company has developed a suite of ... authorities worldwide. From Children’s to Adults 50+, every formula has been developed by ... , These products are also: Gluten Free, Non-GMO, Vegan, Soy Free, Non-Dairy*, Preservative ...
(Date:10/12/2017)... ... ... Asante, a nationally recognized health system in southern Oregon, ... health joint venture through an agreement, effective October 1, 2017, to create AccentCare ... company with Asante, delivering clinically integrated care, for the past eight years. This ...
(Date:10/12/2017)... ... October 12, 2017 , ... HMP , a leader in healthcare events ... Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ Winners were announced during the ... The annual award competition recognizes editorial and design excellence across a range of sectors. ...
Breaking Medicine News(10 mins):
(Date:10/10/2017)... ORANGE COUNTY, Calif. , Oct. 10, 2017  NDS received ... Mobile  — a medical-grade battery-powered display stand specifically designed for ... aims to transform technology into a clinical solution to support the ... costs. Innovative Design ... NDS ZeroWire Mobile Wireless Solution ...
(Date:10/5/2017)... 2017  In response to the nationwide opioid ... Surgeons (AAOMS) released prescribing recommendations that urge ibuprofen ... as a first-line therapy to manage a patient,s ... Recognizing the value and importance of ... Prescribing: Acute and Postoperative Pain Management" stresses that ...
(Date:10/4/2017)... Oct. 4, 2017 OBP Medical ... illuminating medical devices, today announced regulatory approval from ... Agency (or Agência Nacional de Vigilância Sanitária (ANVISA)) ... cordless surgical retractor with integrated LED light source ... illumination and exposure of a tissue pocket or ...
Breaking Medicine Technology: