Trading in Theravance Common Stock Halted

FDA Advisory Committee to Review Telavancin NDA

• Press Release
• Source: Theravance, Inc.
• On Wednesday November 19, 2008, 7:05 am EST

SOUTH SAN FRANCISCO, CA--(MARKET WIRE)--Nov 19, 2008 -- Theravance, Inc. (NasdaqGM:THRX - News) today announced that NASDAQ halted trading of Theravance common stock this morning, November 19, 2008. The Anti-Infective Drugs Advisory Committee to the U.S. Food and Drug Administration (FDA) meets today to review and discuss the company's New Drug Application (NDA) for telavancin, a novel, bactericidal, once-daily injectable investigational antibiotic for the treatment of complicated skin and skin structure infections (cSSSI) caused by Gram-positive bacteria, including resistant pathogens such as methicillin-resistant Staphylococcus aureus (MRSA).

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Symbol	Price	Change
THRX	13.52	-0.06

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About Theravance

Theravance is a biopharmaceutical company with a pipeline of internally discovered product candidates. Theravance is focused on the discovery, development and commercialization of small molecule medicines across a number of therapeutic areas including respiratory disease, bacterial infections and gastrointestinal motility dysfunction. The company's key programs include: telavancin for the treatment of serious Gram-positive bacterial infections with Astellas Pharma Inc., the Horizon program and the Bifunctional Muscarinic Antagonist-Beta2 Agonist (MABA) program with GlaxoSmithKline plc, and the Gastrointestinal Motility Dysfunction program. By leveraging its proprietary insight of multivalency toward drug discovery focused primarily on validated targets, Theravance is pursuing a next generation strategy designed to discover superior medicines in areas of significant unmet medical need. For more information, please visit the company's web site at www.theravance.com.

THERAVANCE®, the Theravance logo, and MEDICINES THAT MAKE A DIFFERENCE® are registered trademarks of Theravance, Inc.

     Contact Information:
      
     Michael W. Aguiar
     Senior Vice President and Chief Financial Officer
     650-808-4100
     Email Contact