Pharma BD Deal Intelligence

GlaxoSmithKline plc / Reliant Pharmaceuticals Inc.

2007 · Acquisition/Merger · $1.6B · Complete

WRONG BY 41 POINTS

Blockbuster ramp, then a patent-cliff crash: Lovaza paid back well for ~6 years before generics gutted it and GSK exited entirely by 2021

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The coverage arc

Nov 21, 2007 BioSpace Bullish

Reliant 9-month sales of $341M (+62% YoY); Lovaza grew 115% YoY to $206M; GSK expected slight 2008 EPS accretion ex-integration.

Jan 01, 2024 Wikipedia (cites BASF, FDA) Neutral

Generic omega-3-acid ethyl esters became available in April 2014; FDA noted dose-dependent atrial fibrillation risk at 4g/day, eroding the post-2014 franchise.

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GlaxoSmithKline acquired Reliant Pharmaceuticals for $1.65B in cash, gaining Lovaza (omega-3-acid ethyl esters), a fast-growing prescription hypertriglyceridemia therapy that represented ~60% of Reliant's revenue. The deal added a US cardiovascular growth driver complementary to Coreg CR; generic entry from 2014 and FDA atrial-fibrillation warnings later eroded the franchise.

Did it work? Outcome assessment

Blockbuster ramp, then a patent-cliff crash: Lovaza paid back well for ~6 years before generics gutted it and GSK exited entirely by 2021

Strategic verdict
Partially Achieved

Key facts

Related deals — scored

DealYearValueOutcome
GlaxoSmithKline plc / Reliant Pharmaceuticals Inc. (this deal)2007$1.6B47
GlaxoSmithKline plc / Theravance, Inc.2012$213M82
GlaxoSmithKline plc / Tesaro Inc.2018$5.1B79
GlaxoSmithKline plc / Pfizer Inc. (Consumer Healthcare Division)2018$12.7B76
GlaxoSmithKline plc / Novartis Consumer Healthcare JV2018$13.0B74
GlaxoSmithKline plc / ID Biomedical Corporation2005$1.4B64
GlaxoSmithKline plc / Vir Biotechnology Inc.2020$595M51

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