According to reports, GlaxoSmithKline has invested an additional $6.7 million in Theravance, its partner in developing a number of inhaled asthma and COPD drugs. The purchase of common stock gives GSK approximately 19% of Theravance’s outstanding shares. GSK and Theravance have worked together on inhalation product development since 2002 and have their Relovair ICS/LABA product in Phase 3 development, as is its GSK573719/Vilanterol combination product.
Read Wall Street Journal article.
