Erstwhile GSK partner seeks to reassert its independence
Less than two months after Theravance Biopharma (Nasdaq: TBPH) sold off rights to its share of royalties from parts of GSK’s (LSE: GSK) respiratory franchise, the company announced an agreement to buy back equity from the British drugmaker.
The purchase forms part of a strategy to move away from its legacy of respiratory products, developed together with GSK over many years, under a longstanding collaboration.
Theravance, which is listed in Dublin but based in California, agreed in July to sell rights to Trelegy Ellipta (fluticasone furoate/umeclidinium/vilanterol) for over $1.5 billion in potential total value.
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