Positive data for asthma drug

Biotech Theravance (THRX) and GlaxoSmithKline (GSK) released positive data on a trial of their drug for asthma. The companies said the Phase 3 trial met its primary endpoint of bringing a statistically significant improvement in lung function after 12 weeks of treatment. The drug is a combination of fluticasone furoate, a steroid that Glaxo sells separately as the blockbuster Advair, and another compound called vilanterol. Theravance shares rose 5% to 37.34 and GlaxoSmithKline rose 0.8% to 52.65.