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GSK Buys Reliant

Posted Oct 28 2008 9:56pm

GSK just announced that it will by Reliant Pharmaceuticals for $1.65 billion. The deal was essentially for Lovaza (omega-3-acid ethyl esters), a treatment for high triglycerides.

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 USbusiness. It represents a strong strategic fit, complementing Coreg CR®, a leading treatment for heart failure and hypertension, and adds to our growing profile in the cardiovascular disease area.” [Yes, that is a typo in the GSK press release.]

It’s an interesting move. Every pharma company is trying to move away from primary-care products into the more lucrative oncology and biotech drugs, and here’s GSK moving more into cardiovascular.

It’s an odd move, but not necessarily a bad one. It will be interesting to see how this shakes out.
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