Alkermes gets $166.3 mln from Reliant stake sale to Glaxo

Wed Dec 19, 2007 8:32am EST

Dec 19 (Reuters) - Biotechnology company Alkermes Inc (ALKS.O) said it received $166.3 million from the sale of its stake in heart drug specialist Reliant Pharmaceuticals Inc to Europe's biggest pharmaceuticals group GlaxoSmithKline Plc (GSK.L).

An additional $7.7 million is due to Alkermes under an escrow arrangement, the company said in a statement. (Reporting by Anant Vijay Kala in Bangalore; Editing by Deepak Kannan)

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