GSK and Innoviva have jointly developed Trelegy Ellipta, Relvar Ellipta, and Anoro Ellipta drugs for use in asthma and COPD
GSK has agreed to sell all of its nearly 32 million shares of common stock of US-based Innoviva back to the royalty management company, at a price of $12.25 per share, indicating a total consideration of $392m.
Under the collaboration with Innoviva, GSK has developed Trelegy Ellipta, Relvar Ellipta, and Anoro Ellipta for use in asthma and chronic obstructive pulmonary disease (COPD).
The drugs were approved by the US and EU regulators for several indications related to asthma and COPD.
Under the terms of the agreement, GSK pays royalties to Innoviva on Trelegy Ellipta, Relvar/Breo Ellipta and Anoro Ellipta.
The UK-based pharmaceutical company said that with the completion of the transaction, it will no longer hold any Innoviva stock.
The equity disposal will release capital and enable the company to make further investment according to the group’s strategic priorities.
In 2020, Trelegy Ellipta made sales totalling £819m; Relvar/Breo Ellipta made £1.1bn sales and Anoro Ellipta £547m sales.
The UK-based firm said that its long-term respiratory collaboration with Innoviva will continue as usual, without any changes.