Glaxo completes Reliant Pharmaceutical purchase

GlaxoSmithKline this morning said it has completed the acquisition of Reliant Pharmaceuticals for $1.65 billion.

Reliant, a privately held drugmaker based in Liberty Corner, sells the cardiovascular drug Lovaza, among other products. GSK, the British pharmaceutical company, wrapped up the acquisition after the Federal Trade Commission ended its antitrust review early.
GSK said it expects the deal will add to earnings in 2008, excluding the cost of consolidating the companies.

"We're eager to begin building on Reliant's success with Lovaza," said Chris Viehbacher, president of GSK's U.S. pharmaceuticals arm. "We think this medicine has significant potential to help larger numbers of patients, and we expect it to become an important driver of sales growth in the U.S."

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