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6:38 PM
 | 
Jun 29, 2007
 |  BC Extra  |  Company News

GlaxoSmithKline declines Theravance call right

THRX said partner GlaxoSmithKline (LSE:GSK; GSK) chose not exercise the call right it received under a 2004 deal to acquire 50% of THRX's outstanding common stock for $54.25 per share. The 2004 deal originally gave GSK an option to license all of THRX's programs through August 2007 (See BioCentury Extra, Wednesday, March 31, 2004).

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