Reliant, GlaxoSmithKline deal

GSK will acquire Reliant for $1.7 billion in cash. The acquisition gives GSK U.S. rights to Lovaza omega 3 acid ethyl esters, 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 Biopharma ASA (OSE:PRON, Lysaker, Norway) (see BioCentury, Dec. 6, 2004). GSK said Lovaza complements its Coreg CR, which is marketed for heart failure and hypertension.

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