Royalty Pharma to Acquire Theravance Biopharma for $1/Share
Ticker: TBPH · Form: 8-K · Filed: Sep 23, 2024 · CIK: 1583107
| Field | Detail |
|---|---|
| Company | Theravance Biopharma, Inc. (TBPH) |
| Form Type | 8-K |
| Filed Date | Sep 23, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, merger, cash-deal
Related Tickers: ROY
TL;DR
Royalty Pharma is buying Theravance Biopharma for $1 cash per share, deal expected Q4 2024.
AI Summary
Theravance Biopharma, Inc. announced on September 18, 2024, that it has entered into a definitive agreement to be acquired by Royalty Pharma plc for $1.00 per share in cash. This transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition by Royalty Pharma provides Theravance Biopharma shareholders with a cash payout, marking the end of its journey as an independent public company.
Risk Assessment
Risk Level: low — The filing is a straightforward announcement of a definitive acquisition agreement with a specified cash price per share.
Key Numbers
- $1.00 — Acquisition Price Per Share (Cash amount shareholders will receive for each share of Theravance Biopharma.)
Key Players & Entities
- Theravance Biopharma, Inc. (company) — Company being acquired
- Royalty Pharma plc (company) — Acquiring company
- $1.00 (dollar_amount) — Per share acquisition price
- September 18, 2024 (date) — Date of definitive agreement
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the total value of the acquisition?
The filing does not explicitly state the total value of the acquisition, but it specifies a price of $1.00 per share in cash.
Who is acquiring Theravance Biopharma?
Royalty Pharma plc is acquiring Theravance Biopharma, Inc.
When is the acquisition expected to close?
The acquisition is expected to close in the fourth quarter of 2024.
What is the form of consideration for the acquisition?
The consideration is cash, with an offer of $1.00 per share.
Are there any specific conditions mentioned for the closing of the deal?
The filing mentions that the transaction is subject to customary closing conditions.
Filing Stats: 592 words · 2 min read · ~2 pages · Grade level 12.2 · Accepted 2024-09-23 06:05:06
Key Financial Figures
- $0.00001 — e on which registered Ordinary Share $0.00001 Par Value TBPH NASDAQ Global Marke
Filing Documents
- tm2424315d1_8k.htm (8-K) — 24KB
- 0001104659-24-101816.txt ( ) — 193KB
- tbph-20240918.xsd (EX-101.SCH) — 3KB
- tbph-20240918_lab.xml (EX-101.LAB) — 33KB
- tbph-20240918_pre.xml (EX-101.PRE) — 22KB
- tm2424315d1_8k_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events On September 18, 2024, Theravance Biopharma R&D IP, LLC, Theravance Biopharma US, Inc. and Theravance Biopharma Ireland Limited, subsidiaries of the Registrant Theravance Biopharma, Inc. (together, "Theravance"), and Mylan Ireland Limited and Mylan Specialty L.P. (together, "Mylan"), entered into a Settlement Agreement (the "Settlement Agreement") with Qilu Pharmaceutical Co., Ltd. and Qilu Pharma Inc. (together "Qilu") relating to Theravance and Mylan's YUPELRI (revefenacin) inhalation solution . A Theravance entity owns and Mylan is the exclusive sub-licensee of United States Patent Nos. 8,541,451; 9,765,028; 10,550,081; 11,008,289; 11,484,531; 11,691,948; and 11,858,898 (the "Patents-in-Suit"). The Settlement Agreement resolves ongoing patent litigation brought by Theravance and Mylan against Qilu pursuant to the Hatch-Waxman Act based on Qilu's filing of an abbreviated new drug application ("ANDA") seeking approval to market a generic version of YUPELRI (revefenacin) inhalation solution prior to expiration of the Patents-in-Suit. Under the Settlement Agreement, Theravance and Mylan granted Qilu a royalty-free, non-exclusive, non-sublicensable, non-transferable license to manufacture and market Qilu's generic version of YUPELRI (revefenacin) inhalation solution in the United As required by law, the settlement is subject to review by the U.S. Department of Justice and the Federal Trade Commission. The patent litigation previously disclosed by the Company remains pending against three other ANDA filers: Cipla Limited; Eugia Pharma Specialities Ltd.; and Mankind Pharma Ltd.; along with certain affiliates. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. T