Issue Date: April 9, 2012
GSK Ups Its Stake In Theravance
GlaxoSmithKline has paid $213 million to increase its stake in South San Francisco-based Theravance by 8.5% to a total of 26.8%. GSK has been a partner of the small-molecule drug discovery firm since 2002. They have collaborated on the development of Relovair, which combines a long-acting β2 agonist with an inhaled corticosteroid to treat respiratory diseases. GSK will soon file for approval of the drug in the U.S. and Europe. The companies are working on another respiratory disease drug that is in Phase II development.
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