Theravance Biopharma up on $250 mln capital return program

Theravance Biopharma

19/09/2022 16:03

** Theravance Biopharma Inc shares  TBPH.O  rise 5.2% to
$10.9 on $250 mln capital return program
    ** TBPH plans to buy back an equity stake owned by GSK
 GSK.L  at a price of $9.75/shr - discount of 2.5% to last
close urn:newsml:reuters.com:*:nPn8jX3nMa
    ** Adds it further plans to buy back shares worth $95 mln in
tender offer and spend $60 mln on open-market purchases, which
is expected to be completed by the end of 2023
    ** Including session gains, stock down ~4% YTD 

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))