Theravance Inc. (THRX) and GlaxoSmithKline (GSK) announced Monday morning that they entered into a stock purchase agreement, under which Theravance will issue, and GSK will acquire, 10,000,000 shares of Theravance common stock at a price of $21.2887 per share, for a total investment of $212,887,000. After this purchase GSK will own 25,814,421 shares of Theravance common stock, which would increase GSK's ownership of Theravance from approximately 18.3% to approximately 26.8%.
Theravance gapped up at the open Monday and has spiked higher in early trade. The stock is now up 1.37 at $20.87. Theravance has risen to a 3-month high and has re-crossed its 200-day moving average.
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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.