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GlaxoSmithKline (GSK) has bought heart drug specialist Reliant
Pharmaceuticals for £800m, the company has confirmed.
GSK said that it expects the transaction will add to earnings in 2008 and create additional value in following years.
Privately held Reliant develops speciality medicines combating heart disease and holds the US rights to Lovaza, 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.
GSK said that Lovaza would complement its existing Coreg drug for heart disease and hyper-tension and act as a new boost to US sales.
Commenting on the acquisition, Chris Viehbacher, president of US pharmaceuticals at 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, a leading treatment for heart failure and hypertension, and adds to our growing profile in the cardiovascular disease area.”
In the nine months up until September 30, Reliant posted net sales of £100m.
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