Theravance Biopharma Soars 9.39% on $225M Trelegy Royalty Sale

On June 2, 2025, Theravance Biopharma, Inc. saw a significant pre-market rise of 9.39%, driven by a strategic move to sell its remaining royalty interest in Trelegy Ellipta to GSK for $225 million in cash. This transaction is part of the company's ongoing efforts to maximize shareholder value and return excess capital to investors.

Theravance Biopharma's decision to sell its remaining royalty interest in Trelegy Ellipta to GSK for $225 million in cash is a strategic move aimed at translating long-standing confidence in Trelegy's sustained success into immediate value for shareholders. This transaction follows the company's initial sale of Trelegy royalty interests in 2022, which generated $1.1 billion in upfront cash. The company retains the right to receive up to $150 million in remaining Trelegy sales-related milestones in 2025 and 2026 from Royalty Pharma, further enhancing shareholder value.

The sale of the Outer Year Royalties is the first outcome of the Strategic Review Committee's ongoing efforts to assess all strategic alternatives available to the company. The committee, composed entirely of independent directors, is focused on disciplined capital allocation and returning excess cash to shareholders. This transaction underscores Theravance Biopharma's commitment to creating and driving shareholder value through strategic decisions and ongoing efforts to grow its product portfolio.