Glaxo gets US okay to buy heart drug maker Reliant

WASHINGTON Fri Dec 14, 2007 3:46pm EST

WASHINGTON Dec 14 (Reuters) - U.S. antitrust authorities have cleared GlaxoSmithKline Plc (GSK.L) to buy privately held heart drug specialist Reliant Pharmaceuticals.

The Federal Trade Commission announced that antitrust authorities had found no reason to oppose the deal in a listing of completed merger reviews that it issues periodically.

Glaxo, Europe's biggest drugmaker, said last month it planned to buy Reliant for $1.65 billion in cash.

Reliant, which recorded net sales of $341 million in the nine months ending Sept. 30, has a portfolio of specialty drugs for heart disease, including U.S. rights to Lovaza, an omega-3 treatment for patients with very high levels of triglycerides. (Reporting by Diane Bartz; Editing by Brian Moss)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.