GlaxoSmithKline Boosts Stake in Theravance

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.

GlaxoSmithKline currently owns 18.3% of Theravance and the acquisition would increase its ownership to 26.8%.

-- Written by Alexandra Zendrian

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to:

>To follow the writer on Twitter, go to Alexandra Zendrian.