Chris Viehbacher, President, US Pharmaceuticals, GSK expects cholesterol drug Lovanza to drive sales growth in the US.

Healthcare giant GlaxoSmithKline (GSK) has agreed to buy US heart drug specialist Reliant Pharmaceuticals Inc. for $1.65 billion (£800 million) in cash.

The company’s main interest is Reliant’s US rights to Lovaza™ (omega-3-acid ethyl esters), a cholesterol treatment for adult patients with very high levels of triglycerides. The drug generated $200m sales in its first nine months of release.

GSK said it expects the transaction will be “slightly accretive to earnings in 2008, excluding integration costs, and will create additional value in following years.”

Reliant recorded net sales of $341 million in the nine months ending 30 September 2007, an increase of 62% year-on-year.

The company’s portfolio of specialty heart disease medicines include high blood pressure treatments DynaCirc CR® (isradipine) and InnoPran XL®, as well as Rythmol SR® (propafenone), which treats abnormal heart rhythms, or arrhythmia.

Commenting on the acquisition, Chris Viehbacher, President, US Pharmaceuticals, 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 CR®, a leading treatment for heart failure and hypertension, and adds to our growing profile in the cardiovascular disease area.”

The acquisition is subject to approval by the US Federal Trade Commission and is expected to conclude before the end of 2007.

By Natasha Piscitelli