Theravance Biopharma, Inc. (TBPH), Monday announced an agreement to sell remaining interest in net sales of Trelegy Ellipta, a chronic obstructive pulmonary disease or asthma treatment, to GSK (GSK) for $225 million in cash.
This move comes as a result of the ongoing efforts of the Strategic Review Committee of the Board of Directors, which focuses on disciplined capital allocation and returning excess cash to shareholders.
Notably, the company will continue to retain its right to receive upto $150 million in remaining Trelegy sales related milestones in 2025 and 2026 from Royalty Pharma.
The company further assured that its financial outlook for 2025 remains unchanged.
In the pre-market hours, TBPH is trading at $10.52, up 14.85 percent on the Nasdaq.
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