Reliant Pharmaceuticals pulls IPO, citing market conditions

By Ted A. Knutson

Washington, Nov. 17 - Reliant Pharmaceuticals, Inc. canceled its planned initial public offering of common stock Thursday that was to have raised an estimated $300 million, citing unfavorable market conditions.

The announcement came in an RW filing with the Securities and Exchange Commission.

Goldman Sachs & Co. was to have been the lead underwriter. Co-managers were Banc of America Securities LLC, Deutsche Bank Securities, William Blair & Co. and Lazard Capital Markets.

Liberty Corner, N.J.-based Reliant makes cardiovascular drugs.

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