ARTICLE | Company News
Theravance Biopharma, Mylan strike COPD deal
February 3, 2015 2:42 AM UTC
Theravance Biopharma Inc. (NASDAQ:TBPH) and Mylan Inc. (NASDAQ:MYL) entered a development and commercialization agreement for nebulized TD-4208 to treat chronic obstructive pulmonary disease (COPD) and other respiratory diseases.
Mylan will pay Theravance $15 million in cash up front and make a $30 million equity investment in the company at $18.92 per share, a 17% premium to Friday's close of $16.24. Theravance is also eligible for up to $220 million in milestones, including $175 million associated with TD-4208 monotherapy and $45 million associated with potential combination treatments. ...