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."
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