Biotech SF: GSK to buy $129M in Theravance stock

Monday, November 29, 2010

GSK to buy $129M in Theravance stock

GlaxoSmithKline PLC will buy about $129.4 million worth of stock in Theravance Inc. in a private placement, the companies said Monday.
London-based Glaxo (NYSE: GSK) agreed to buy 5.75 million shares for $22.50 each.
The purchase increases Glaxo's stake in South San Francisco-based Theravance (NASDAQ: THRX) to 19 percent.

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