Glaxo May Buy Theravance to Gain New Drugs, Piper Analysts Say
By Makiko Kitamura - Mar 4, 2013
GlaxoSmithKline Plc (GSK), the U.K.’s largest drugmaker, may consider acquiring Theravance Inc. (THRX) to fully control respiratory drugs the companies developed together, analysts said.
The Food and Drug Administration’s Pulmonary-Allergy Drugs Advisory Committee will review the two companies’ Breo drug on March 7. Glaxo currently owns 27 percent of Theravance and may pay $51 a share for the remainder, Piper Jaffray analysts said in a note to investors. That’s more than double the closing price on March 1 and would value the remaining stake at about $3.6 billion