Theravance (THRX) looks poised for a strong session after an FDA advisory panel recommends approval of a once-daily COPD inhaled treatment option (Breo Ellipta) the company is developing with GlaxoSmithKline (GSK). Some color on the story: 1) the drug will be called "Relvar" in the U.S. 2) Annual sales should come in at ~$337M next year. 3) Treatment may be used in conjunction with GSK's $8B per year Advair. 4) Relvar will compete with AstraZeneca's Symbicort which had sales of $3.19B in 2012. THRX shares +16% premarket.