GlaxoSmithKline Boosts Stake in Theravance
The drug company will now own more than a 25% stake in Theravance.
NEW YORK (
) -- Drug company
GlaxoSmithKline
(GSK)
announced Monday that it is acquiring 10 million shares of biopharmaceutical firm
Theravance
(THRX)
for about $212.9 million.
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GlaxoSmithKline currently owns 18.3% of Theravance and the acquisition would increase its ownership to 26.8%.
-- Written by Alexandra Zendrian
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