Britain's GSK exits Innoviva stake in $392 million deal

Innoviva

20/05/2021 15:03

May 20 (Reuters) - GSK  GSK.L  said on Thursday it sold its
entire shareholding in Innoviva  INVA.O  back to the U.S.-based
biopharmaceutical company for about $392 million, as the British
drugmaker simplifies its operations ahead of a split into two
businesses.
    The terms of the two companies' existing collaboration on
respiratory treatments is not affected by the sale, GSK said.
Under that deal, GSK pays royalties to Innoviva on drugs Trelegy
Ellipta, Relvar/Breo Ellipta and Anoro Ellipta.

 (Reporting by Pushkala Aripaka in Bengaluru; Editing by Sriraj
Kalluvila)
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