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  • Jun. 3, 2014, 1:38 PM
    • Theravance (THRX -19.2%) and Theravance Biopharma complete their separation into two independent publicly-traded companies. Shares of Theravance are down a good bit today as investors revalue the firm ex-biopharmaceuticals.
    | Jun. 3, 2014, 1:38 PM | 4 Comments
  • Jun. 4, 2013, 2:05 PM

    Institutional Shareholder Services is recommending Elan (ELN +0.6%) shareholders vote against several company proposals - including a $1B royalty-sharing agreement with Theravance (THRX -1.5%) and a $200M stock buyback program at ELN's June 17 special meeting. It withholds recommendation on the Royalty all-cash offer however, although it said voting against ELN's proposals "leaves the door open for shareholders to tender their shares if they so wish."

    | Jun. 4, 2013, 2:05 PM
  • May 20, 2013, 1:37 PM

    More on Royalty Pharma/ Elan (ELN +3.3%): Royalty says ELN "dramatically overpaid" for its 21% participation interest in future royalty payments from Theravance's (THRX -5.9%) respiratory collaborations with GlaxoSmithKline (GSK +0.2%). The deal was made in a "hasty" fashion Royalty claims, and says the same might well be said of ELN's purchases of AOP Oprhan Pharmaceuticals and a 48% stake in NewBridge Pharmaceuticals (for a combined cost of $380M). The new offer ($12.50/share) is contingent upon shareholders voting against the THRX deal.

    | May 20, 2013, 1:37 PM
  • Jul. 2, 2012, 2:38 PM
    Piper Jaffray looks at other potential takeout candidates in the biotech space post-Amylin, highlighting BioMarin (BMRN +3.8%), Affymax (AFFY +1%), Theravance (THRX +8.3%), and Rigel Pharmaceuticals (RIGL +2.3%) all as potential candidates. Piper notes that BioMarin could fetch as much as $79 per share, and notes that Japanese drug heavyweight Takeda Pharmaceuticals (TKPYY.PK) could be the most likely suitor for Affymax.
    | Jul. 2, 2012, 2:38 PM
  • Apr. 2, 2012, 7:49 AM

    GlaxoSmithKline (GSK) buys 10M shares of Theravance (THRX) at a price of $21.2887 a pop - taking its stake in the asthma drug firm up to 26.8%. The transaction needs the approval of Theravance's stockholders before closing. Premarket: GSK +0.7%, THRX inactive.

    | Apr. 2, 2012, 7:49 AM