GSK buying Reliant
This article was originally published in The Tan Sheet
GlaxoSmithKline gains Reliant Pharmaceuticals' cardiovascular drug portfolio, including an Rx omega-3-acid ethyl esters product, Lovaza, with its $1.65 billion acquisition of the privately held U.S. firm, according to a Nov. 21 release. Liberty Corner, N.J.-based Reliant generated net sales of $341 million from January through September 2007, a 62 percent increase from the same period in 2006, the firms say. While it is subject to Federal Trade Commission approval, the firms expect the deal to close by year-end. Reliant acquired U.S. rights to Lovaza, which was formerly known as Omacor, from Abbott Labs' Ross Products Division (1"The Tan Sheet" Nov. 29, 2004, p. 10). U.S. sales of the product increased 115 percent in the first nine months of 2007 to $206 million, according to Reliant. However, data submitted by Reliant and Ross on use of the omega-3-acid ethyl esters product along with statins were inadequate to support an indication for combination use, according to FDA (2"The Tan Sheet" March 7, 2005, p. 19)...
You may also be interested in...
GlaxoSmithKline sees consumer health care as a major opportunity in 2008 as its pharmaceutical division faces setbacks from increased generic competition and safety concerns surrounding the diabetes drug Avandia
Reliant/Ross' data on combined use of its triglyceride-lowering therapy Omacor with statins were inadequate to support an indication for combination use, FDA review documents state
Abbott Lab's prescription drug Omacor is the first omega-3 fatty acid product to gain FDA approval as a new molecular entity
Sign in to continue reading.
Need a specific report?
1000+ reports available
New to Pink Sheet?
Start a free trial today!
Register for our free email digests: