Philadelphia Inquirer, The - Glaxo buying N.J. drug firm
GlaxoSmithKline P.L.C. said yesterday that it would buy a New Jersey firm with the U.S. rights to the triglyceride-fighter Lovaza for $1.65 billion in cash. Reliant Pharmaceuticals Inc., of Liberty Corner, has four artery- or heart-related medications on the market, including fast-growing Lovaza. The acquisition will boost GlaxoSmithKline's cardiovascular-drug segment, which is anchored by the prescription drug Coreg for hypertension and congestive heart failure.
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WHEN DID SOLOMON DIE?
“The pharmaceutical companies have been making acquisitions right along to fill in their [product] pipeline,” Argus Research Corp. analyst Martha Freitag said yesterday. “It doesn't surprise me.” Cholesterol drugs are a multibillion-dollar market for major drug companies. GlaxoSmithKline does not have a big-selling cholesterol drug in its portfolio, but this acquisition gives the company a different entry point to the market. Like cholesterol, triglycerides are fatty substances in the blood that can lead to heart trouble. According to a GlaxoSmithKline statement, five million people in the …
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