5:26 PM
 | 
May 13, 2013
 |  BC Extra  |  Top Story

Elan paying Theravance for respiratory royalties

Theravance Inc. (NASDAQ:THRX) gained $6.26 (18%) to $41.20 on Monday after Elan Corp. plc (NYSE:ELN) said it will pay $1 billion in cash in exchange for a 21% interest in the royalties Theravance is eligible to receive from partner GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) for four respiratory programs. The programs are: Breo/ Relvar Ellipta fluticasone furoate/vilanterol, which is approved in the U.S. and under review in the EU; Anoro Ellipta umeclidinium bromide/vilanterol, which...

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