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GSK acquiring Reliant for $1.7B

November 22, 2007 12:27 AM UTC

GlaxoSmithKline (LSE:GSK; GSK) said it will acquire cardiovascular company Reliant (Liberty Corner, N.J.) for $1.7 billion in cash. The acquisition gives GSK U.S. rights to Lovaza, which is marketed for use as an adjunct to diet to treat hypertriglyceridemia. Reliant has U.S. rights to the compound derived from omega-3 from Pronova (OSE:PRON). GSK said Lovaza complements its Coreg CR, which is marketed for heart failure and hypertension.

Reliant also markets Rythmol SR for arrhythmia and hypertension drugs DynaCirc CR and InnoPran XL. For the nine months ended Sept. 30, Reliant had $341 million in sales, including $206 million in Lovaza sales. The deal is expected to close by year end. ...