Theravance Inc. (THRX) and Elan Corp. (ELN) announced Monday morning that they have entered into a royalty participation agreement. Elan will purchase a participation interest in potential future royalty payments related to four respiratory programs partnered with GlaxoSmithKline (GSK).
Theravance gapped open sharply higher Monday and is now up 4.56 at $39.50. The stock has risen above nearly a 1-month range and has set a new high for the year.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.