Theravance/Glaxo spin-off happens next quarter


Part of Theravance (THRX) will separate from partner GlaxoSmithKline (GSK) next quarter.

Theravance Biopharma, the new firm, will retain the rights to Relvar, Breo and Anoro Ellipta drugs, with combined peak sales estimates of $3.5B.

The company will launch with $300M in capital, one FDA-approved product Vibativ, an injectable antibiotic and three Phase 2 product candidates.

Glaxo retains 85% rights to the three Theravance pipeline prospects.

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