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GlaxoSmithKline announces USD 1.65 billion of acquisition Reliant Pharmaceutical

23 Nov 2007 - Pronova BioPharma ASA notes the announcement of a proposed USD 1.65 billion acquisition between GlaxoSmithKline PLC and Reliant Pharmaceuticals, Inc. GlaxoSmithKline is one of the world`s leading research-based pharmaceutical and healthcare companies and its proposed acquisition of Reliant, whose lead product is based on Pronova BioPharma`s API and branded as Lovaza in the US, is a significant endorsement of the product`s current success and future opportunity within the US market, according to the company. Lovaza is the only omega-3 derived pharmaceutical approved by the United States Food and Drug Administration (FDA) for the treatment of very high triglycerides.
 
The acquisition is subject to approval by the US Federal Trade Commission and is expected to conclude before year-end.