Elan Makes A $1 Billion Theravance Royalty Play; What Will Investors Say?
This article was originally published in The Pink Sheet Daily
The Irish company, fighting a takeover offer from Royalty Pharma, has made the first of several planned deals: Elan will pay $1 billion to Theravance in exchange for a 21% interest in future royalty payments from four respiratory programs partnered with GlaxoSmithKline. Theravance shares soared on the news.
You may also be interested in...
Theravance Preps For Separation As Breo Hits The U.S. Market
The San Francisco-based biotech is going through with a company spin-out that will put all of its royalty revenues in one entity and R&D work into another, as its lead respiratory product is being prepared for a global commercial launch.
Theravance Re-Introduces Vibativ In The U.S. Independently (For Now)
The biotech is bringing is long-plagued antibiotic back to U.S. patients, but is still searching for another company to help with commercialization efforts. Meanwhile, plans for its split and the launch of its partnered COPD drug are on track.
Theravance’s Vibativ Adds Long-Sought Pneumonia Indication
Company has secured a new third-party manufacturer for the antibiotic and says it will relaunch the drug in the third quarter. FDA approval for telavancin’s use in hospital-acquired pneumonia comes four-and-a-half years after the original NDA submission for the supplemental claim.