GlaxoSmithKline ups stake in COPD drug partner Theravance

3 April 2012

UK pharma giant GlaxoSmithKline (LSE: GSK) has increased its equity stake in USA-based Theravance (Nasdaq: THRX), its respiratory products development partner, acquiring 10 million newly-issued shares in the latter at a price of $21.2887 per share, for a total investment of around $212.9 million.

The news follows the recent announcement that the registrational program for their investigational drug Relovair (fluticasone furoate and vilanterol (FF/VI) is now complete (The Pharma Letter March 26). For chronic obstructive pulmonary disease (COPD), GSK continues with its plans to submit regulatory applications for FF/VI in the USA and Europe in mid-2012. For asthma, the company plans to file for approval in Europe in mid-2012 and will continue discussions with the US Food and Drug Administration on the regulatory requirements for a US asthma indication.

Equity participation raised to 26.8%

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