Theravance To Split To Create Firm Focused On GSK Tie-Up

Law360, New York (April 26, 2013, 4:14 PM EDT) -- Biopharmaceutical firm Theravance Inc. will be split into two independent publicly traded firms, one of which will work with British pharmaceutical giant GlaxoSmithKline PLC on their ongoing collaboration to develop certain respiratory drugs, Theravance said Thursday.

The split firms are currently labeled Royalty Management Co., which will work with GSK, and Theravance Biopharma, a biopharmaceutical firm that will develop small-molecule medicines — some of the most common drugs which come in the form of pills, such as painkillers — according to a statement by Theravance. ...
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