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Elan Buying into Theravance, GSK Royalty Stream for $1B

By Cormac Sheridan
Staff Writer

Wednesday, May 15, 2013
DUBLIN, Ireland – Elan Corp. plc is putting down a $1 billion bet that the respiratory franchise shared by Theravance Inc. and GlaxoSmithKline plc will pay generous dividends over the next decade. Elan is acquiring a 21 percent stake in Theravance's future royalty streams from four drugs that are partnered with London-based GSK.

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