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NEW YORK (

TheStreet

) -- 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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