BRIEF—Theravance Biopharma sells antibiotic Vibativ

Ireland-headquartered Theravance Biopharma announced the sale of its proprietary antibiotic, Vibativ (telavancin), to Cumberland Pharmaceuticals.

Under the terms of the agreement, Cumberland will pay Theravance a total of $25 million and tiered royalties of up to 20% on future US net product sales.

Vibativ is a once-daily, injectable lipoglycopeptide antibiotic approved in the USA for the treatment of adult patients with hospital-acquired and ventilator-associated bacterial pneumonia (HABP/VABP) caused by susceptible isolates of S. aureus when alternative treatments are not suitable.

In addition, Vibativ is approved in the USA for the treatment of adult patients with complicated skin & skin structure infections (cSSSI) caused by susceptible isolates of Gram-positive bacteria, including S. aureus, both methicillin-susceptible (MSSA) and methicillin-resistant (MRSA) strains.

The transaction is expected to close in mid-November, pending satisfaction of customary closing conditions.