Royalty Pharma plc (NasdaqGS:RPRX) entered into an agreement to acquire 15% stake in Theravance Respiratory Company, LLC from Innoviva, Inc. (NasdaqGS:INVA) for approximately $330 million on July 13, 2022. Consideration includes approximately $282 million and a potential $50 million contingent sales-based milestone payment. In a related transaction, Royalty Pharma plc (NasdaqGS:RPRX) entered into an agreement to acquire 85% stake in Theravance Respiratory Company, LLC from Theravance Biopharma, Inc. The transaction is subject to all waiting periods by a Governmental entity shall have expired or otherwise been terminated, closing of the Theravance Biopharma Transaction deal and all other approvals, clearances, consents or permits of Governmental Entities required. The sale is expected to close in July 2022. Moelis & Company LLC acted as financial advisor to Innoviva, Inc. Russell L. Leaf and Jared Fertman of Willkie Farr & Gallagher LLP served as legal advisor to Innoviva. Arthur R. McGivern, Jacqueline Mercier, Rob Carroll, James Barri, Paul Jin and Robert M. Crawford of Goodwin Procter LLP acted as legal advisors to Royalty Pharma.
Royalty Pharma plc (NasdaqGS:RPRX) completed the acquisition of 15% stake in Theravance Respiratory Company, LLC from Innoviva, Inc. (NasdaqGS:INVA) on July 20, 2022.