Theravance’s portfolio includes respiratory disease drugs in partnership with Glaxo Group Limited (GSK), including Relvar/ Breo Ellipta and Anoro Ellipta, which were jointly developed by Theravance and GSK. Under the agreement with GSK, Theravance is eligible to receive associated royalty revenues from Relvar/Breo Ellipta, and Anoro Ellipta and, if approved and commercialized, VI monotherapy, as well. In addition, Theravance retains a 15% economic interest in future payments made by GSK to Theravance BioPharma for earlier-stage programs.