Glaxo pays $1.65bn for US company with heart drug - The Times 22nd November 2007

GlaxoSmithKline (GSK), Europe’s largest drugs group, will pay $1.65 billion (£800 million) for an American pharmaceutical company to obtain a market-leading heart disease drug. GSK will acquire Reliant Pharmaceuticals in an all-cash deal to boost its flagging American performance. The move will bring Lovaza, Reliant’s lead drug, into GSK’s US portfolio. Lovaza is a nonstatin treatment for high triglycerides, a type of fat found in the blood, which increases the risk of heart disease. Reliant was able to command a high price because the Omega3 drug is capturing an increasing share of a growing market

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