Antara (fenofibrate) is part of the $22 billion US market for treating dyslipidemias, which includes the $1 billion fenofibrate market. It is indicated as an adjunct treatment for hypercholesterolemia (high blood cholesterol) and hypertriglyceridemia (high triglycerides) in combination with diet.
Clinical studies have shown that Antara, along with a healthy diet, is effective in reducing triglycerides and increasing HDL-C (high density lipoprotein-cholesterol) levels.
Furthermore, in the 12 months ended June 2006, Antara generated approximately $35 million in revenue.
Oscient has made a payment of $78 million to Reliant for US rights to Antara, plus a purchase of approximately $4 million in existing inventory.
“With the addition of Antara, we are executing a key part of our business strategy by acquiring a primary care product well-suited for commercialization by our sales team,” stated Steven Rauscher, president and CEO of Oscient. “Combined with the continued success of our flagship antibiotic, Factive (gemifloxacin mesylate) tablets, Antara will further our growth as a commercial-stage biopharmaceutical company.”