Theravance closes financing


In preparation for the spin-off of Theravance Biopharma, Theravance (THRX) wholly-owned subsidiary LABA Royalty Sub LLC secures $450M 9% notes via private placement.

The net proceeds of $434.3M will be used to pay off THRX shareholders, to pay the remaining product approval and launch milestones to GlaxoSmithKline (GSK) and to fund post-split Theravance.

The notes are secured by a 40% royalty rate from global net sales of RELVAR/BREO ELLIPTA, ANORO ELLIPTA and, if developed, VI monotherapy.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs