We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
TBPH to Sell Remaining Trelegy Royalty Interest to GSK, Stock Rises
Read MoreHide Full Article
Key Takeaways
Theravance will receive $225M in cash from GSK for its remaining Trelegy royalty interest.
TBPH may earn up to $150M in milestones from Royalty Pharma tied to 2025-2026 Trelegy sales.
The transaction reflects TBPH's effort to maximize shareholder value amid ongoing strategic review.
Theravance Biopharma (TBPH - Free Report) announced that it has entered into an agreement to sell its remaining royalty interest in net sales of Trelegy Ellipta to GSK plc (GSK - Free Report) for $225 million in cash.
Theravance held some royalty interest in GSK’s chronic obstructive pulmonary disease (COPD) medicine, Trelegy Ellipta.
With the latest agreement with GSK, Theravance will be entitled to receive a one-time cash payment of $225 million. The company is also eligible to receive up to $150 million as a milestone payment from Royalty Pharma on Trelegy Ellipta net sales in 2025 and 2026.
Per management, the latest transaction marks the first outcome of the strategic review committee's ongoing and continuous efforts to maximize shareholder value.
Shares of Theravance were up 22% yesterday following the announcement of the news.
The stock has rallied 18.5% so far this year against the industry’s decline of 1.9%.
Image Source: Zacks Investment Research
More on TBPH's Royalty Interest in Trelegy Ellipta
In February 2025, Theravance earned a $50 million milestone payment from partner Royalty Pharma based on Trelegy Ellipta’s net sales of $3.46 billion in 2024, as reported by GSK.
With the above mentioned latest agreement, Theravance is entitled to receive a similar milestone payment of $150 million from partner Royalty Pharma if Trelegy Ellipta’s global net sales total ~$3.41 billion in 2025 and ~$3.51 billion in 2026.
The latest transaction is not likely to affect Theravance’s financial guidance for 2025.
In 2022, Theravance sold its economic interest in sales-based royalty rights on worldwide net sales of GSK’s Trelegy Ellipta to Royalty Pharma while retaining some rights to certain future milestone payments.
The latest cash payment to TBPH, in addition to the expected milestone payments, is likely to make the total potential lifetime value of GSK’s Trelegy Ellipta $1.52 billion.
TBPH Focus on Yupelri Commercialization & Other Pipeline Update
Theravance generates revenues in the United States from its collaboration with Viatris (VTRS - Free Report) related to the sales of Yupelri (revefenacin), a nebulized therapy for chronic obstructive pulmonary disease.
Theravance and Viatris have collaborated for the development and commercialization of Yupelri, which is approved in the United States for the maintenance treatment of patients with COPD.
Viatris and Theravance share U.S. profits and losses received in connection with the commercialization of Yupelri. While Viatris gets 65% of the profits, Theravance receives 35%. Viatris collaboration revenues include Theravance’s 35% share of net sales of Yupelri, as well as its proportionate amount of the total shared costs incurred by the two companies.
Theravance reported $15.4 million as collaboration revenues in relation to Yupelri sales from VTRS during the first quarter of 2025, up 6.2% year over year.
Theravance is developing an investigational candidate, ampreloxetine, a norepinephrine reuptake inhibitor for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA), a progressive brain disorder.
The phase III CYPRESS study is evaluating ampreloxetine for nOH MSA. The CYPRESS study is expected to complete patient enrollment by late summer. Top-line data from the same is expected six months after enrollment is completed.
TBPH's Zacks Rank & Stock to Consider
Theravance currently carries a Zacks Rank #3 (Hold).
In the past 60 days, estimates for Immunocore’s loss per share have narrowed from $1.57 to 86 cents for 2025. During the same time, loss per share estimates for 2026 have narrowed from $1.80 to $1.34. Year to date, shares of IMCR have rallied 31.1%.
IMCR’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 76.18%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
TBPH to Sell Remaining Trelegy Royalty Interest to GSK, Stock Rises
Key Takeaways
Theravance Biopharma (TBPH - Free Report) announced that it has entered into an agreement to sell its remaining royalty interest in net sales of Trelegy Ellipta to GSK plc (GSK - Free Report) for $225 million in cash.
Theravance held some royalty interest in GSK’s chronic obstructive pulmonary disease (COPD) medicine, Trelegy Ellipta.
With the latest agreement with GSK, Theravance will be entitled to receive a one-time cash payment of $225 million. The company is also eligible to receive up to $150 million as a milestone payment from Royalty Pharma on Trelegy Ellipta net sales in 2025 and 2026.
Per management, the latest transaction marks the first outcome of the strategic review committee's ongoing and continuous efforts to maximize shareholder value.
Shares of Theravance were up 22% yesterday following the announcement of the news.
The stock has rallied 18.5% so far this year against the industry’s decline of 1.9%.
Image Source: Zacks Investment Research
More on TBPH's Royalty Interest in Trelegy Ellipta
In February 2025, Theravance earned a $50 million milestone payment from partner Royalty Pharma based on Trelegy Ellipta’s net sales of $3.46 billion in 2024, as reported by GSK.
With the above mentioned latest agreement, Theravance is entitled to receive a similar milestone payment of $150 million from partner Royalty Pharma if Trelegy Ellipta’s global net sales total ~$3.41 billion in 2025 and ~$3.51 billion in 2026.
The latest transaction is not likely to affect Theravance’s financial guidance for 2025.
In 2022, Theravance sold its economic interest in sales-based royalty rights on worldwide net sales of GSK’s Trelegy Ellipta to Royalty Pharma while retaining some rights to certain future milestone payments.
The latest cash payment to TBPH, in addition to the expected milestone payments, is likely to make the total potential lifetime value of GSK’s Trelegy Ellipta $1.52 billion.
TBPH Focus on Yupelri Commercialization & Other Pipeline Update
Theravance generates revenues in the United States from its collaboration with Viatris (VTRS - Free Report) related to the sales of Yupelri (revefenacin), a nebulized therapy for chronic obstructive pulmonary disease.
Theravance and Viatris have collaborated for the development and commercialization of Yupelri, which is approved in the United States for the maintenance treatment of patients with COPD.
Viatris and Theravance share U.S. profits and losses received in connection with the commercialization of Yupelri. While Viatris gets 65% of the profits, Theravance receives 35%. Viatris collaboration revenues include Theravance’s 35% share of net sales of Yupelri, as well as its proportionate amount of the total shared costs incurred by the two companies.
Theravance reported $15.4 million as collaboration revenues in relation to Yupelri sales from VTRS during the first quarter of 2025, up 6.2% year over year.
Theravance is developing an investigational candidate, ampreloxetine, a norepinephrine reuptake inhibitor for the treatment of symptomatic neurogenic orthostatic hypotension (nOH) in patients with multiple system atrophy (MSA), a progressive brain disorder.
The phase III CYPRESS study is evaluating ampreloxetine for nOH MSA. The CYPRESS study is expected to complete patient enrollment by late summer. Top-line data from the same is expected six months after enrollment is completed.
TBPH's Zacks Rank & Stock to Consider
Theravance currently carries a Zacks Rank #3 (Hold).
A top-ranked stock in the biotech sector is Immunocore Holdings (IMCR - Free Report) , carrying a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, estimates for Immunocore’s loss per share have narrowed from $1.57 to 86 cents for 2025. During the same time, loss per share estimates for 2026 have narrowed from $1.80 to $1.34. Year to date, shares of IMCR have rallied 31.1%.
IMCR’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 76.18%.