Pharma BD Deal Intelligence
Outcome grade pending — assessed 5 years post-close.
Full analysis, sources & comparables →The Theravance split into a royalty holding co and an R&D operating co was framed as a 'clean takeout' setup for GSK to ultimately consolidate the Breo/Anoro…
Royalty Pharma publicly attacked the Elan-Theravance deal as overpriced and a defensive maneuver, urging Elan shareholders to reject the transaction.
Elan shareholders voted down the Theravance royalty participation transaction in June 2013 amid Royalty Pharma's competing bid for Elan, terminating the…
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Elan agreed $1B cash for 21% of Theravance's royalties on its GSK-partnered respiratory programs (Breo, Anoro, vilanterol, MABA); deal ultimately voted down by Elan shareholders amid Royalty Pharma takeover battle.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Elan Corporation plc / Theravance Inc. (royalty interest) (this deal) | 2013 | $1.0B | — |
| Vertex Pharmaceuticals Incorporated / Concert Pharmaceuticals, Inc. | 2017 | $250M | 85 |
| Madison Dearborn Partners / Ikaria, Inc. | 2013 | $1.6B | 85 |
| AstraZeneca PLC / Amgen Inc. | 2020 | $2.3B | 84 |
| GlaxoSmithKline plc / Theravance, Inc. | 2012 | $213M | 82 |
| Swedish Orphan Biovitrum AB / AstraZeneca PLC (Synagis US rights) | 2018 | $2.3B | 80 |
| GSK plc / Jiangsu Hengrui Pharmaceuticals Co. Ltd. | 2025 | $12.0B | 65 |
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More: 2013 deals · Respiratory deals