For Immediate Release
RELIANT PHARMACEUTICALS, LLC COMPLETES ACQUISITION OF DYNACIRC® AND DYNACIRC CR® FROM NOVARTIS
March 11, 2003
Liberty Corner, NJ, – Reliant Pharmaceuticals, LLC announced today that it has completed the acquisition of DynaCirc and DynaCirc CR from Novartis. With this transaction, Reliant acquires all rights to the DynaCirc family of products in the United States, including all related patents, trademarks and New Drug Applications.
DynaCirc (isradipine) and DynaCirc CR (isradipine controlled release tablets) are dihydropyridine calcium channel blockers indicated for the treatment of hypertension. DynaCirc is highly efficacious with low incidence of side effects and exerts favorable effects on key target organs. DynaCirc CR provides 24-hour blood pressure control in a convenient once-a-day formulation and has been shown to greatly reduce incidence of edema.
In July 2000, Reliant executed an exclusive license with Novartis to market, sell and distribute the DynaCirc family of products in the U.S. with an option to acquire the brand in 2002. Reliant began promotion of DynaCirc CR in September 2000 and currently promotes the product with its national sales force of over 750 representatives, calling on primary care and specialty prescribers. Reliant’s sales force has extensive experience detailing cardiovascular products across the United States and has established strong relationships with high prescribing physicians.
“This is a very important step in Reliant’s evolution,” said Joseph Krivulka, President and co-founder of Reliant. “With this acquisition, the company will own its first NDAs for marketed products—including one with patent protection through 2008. We assumed responsibility for the promotion of DynaCirc in the third quarter of 2000 and subsequently increased prescriptions resulting in total brand sales growth of 28% in 2002. This validates a fundamental element of Reliant’s business model. We believe that the promotional synergies between the DynaCirc brands and the rest of the products that we market offer a unique opportunity to maximize the value of our growing cardiovascular franchise.”
In addition to DynaCirc and DynaCirc CR , Reliant markets Lescol® capsules (fluvastatin) and Lescol® XL extended release tablets (fluvastatin), for cholesterol management under an exclusive promotion agreement with Novartis Pharmaceuticals Corporation and, more recently, Teveten®(eprosartan mesylate), an angiotensin receptor blocker for hypertension through a co-promotion partnership with Biovail.
Reliant Pharmaceuticals is a privately held company founded in 1999 to market branded, patent protected, ethical pharmaceutical products to primary care and targeted specialty physicians. In addition to DynaCirc and DynaCirc CR, Reliant markets a portfolio of products including: Lescol (fluvastatin) and Lescol XL, extended release tablets for cholesterol management under an exclusive promotion agreement with Novartis Pharmaceuticals Corporation and Axid® (nizatidine) developed by Eli Lilly for the treatment of GERD and peptic ulcers. Reliant’s national sales force of over 750 representatives is focused on high volume primary care and specialty physicians. Reliant develops and implements sophisticated life cycle management strategies to extend marketing exclusivity or provide additional patent protection for its products and is also engaged in late stage development of new chemical entities. In addition to investments by members of the company's management team and its Board of Managers, Reliant investors include prominent private investment firms.
For further information, please contact Lawrence (Larry) Gyenes, Executive Vice President & Chief Financial Officer, Reliant Pharmaceuticals, LLC at (908) 542-4402 or send inquiries to lgyenes@reliantrx.com.
“Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995. To the extent any statements made in this release contain information that is not historical, these statements are essentially forward looking and are subject to risks and uncertainties, including the difficulty of predicting FDA approvals, acceptance and demand for new pharmaceutical products, the impact of competitive products and pricing, new product development and launch, reliance on key strategic alliances, availability of raw materials, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in the company’s filings with the Securities and Exchange Commission.
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