Issue Date: May 20, 2013
Elan Takes Stake In Theravance Programs
Elan and Theravance have entered a royalty agreement under which the Irish drug firm will pay Theravance $1 billion for an interest in possible future royalty payments related to four respiratory programs that Theravance is working on with GlaxoSmithKline. Under the agreement, Elan will make a one-time payment for a 21% stake in the royalties that would accrue if Theravance advances any of the programs to commercialization. Elan, which has divested . . .
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