A few days ago, Innoviva (NASDAQ:INVA) changed name (before the company had called itself Theravance (THRX)) and immediately sold off, as Mylan (NASDAQ:MYL) finally presented an ANDA for a generic Advair.
Advair is one of the most successful drugs ever, but has lost some of its luster over the past few years. Tougher competition, pricing pressure and some homemade problems at GSK (NYSE:GSK) have contributed to market share and significant revenue losses. While Advair started its decline, GSK launched a portfolio of successor products, among which Breo, partnered with Innoviva, is presumably the most important one. However, Breo's launch was slower than expected (by the market, not by management), and there is
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