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Zymeworks Buys Theravance for $929M
29 Jun
Summary
- Zymeworks is acquiring Theravance Biopharma for $929 million.
- The deal grants Zymeworks an approved treatment for chronic lung disease.
- Acquisition expected to close in the second half of 2026.
Zymeworks is set to acquire Theravance Biopharma in an all-cash transaction valued at $929 million. This significant acquisition is poised to integrate Theravance's approved treatment for chronic lung conditions into Zymeworks' offerings.
The acquired drug, Yupelri, is recognized for its once-daily maintenance treatment for chronic obstructive pulmonary disease. This strategic integration aims to bolster Zymeworks' market presence in respiratory therapeutics.
Under the terms of the agreement, Zymeworks will purchase all outstanding Theravance shares at $17 per share. The transaction is projected to conclude in the second half of 2026. Zymeworks anticipates this acquisition will provide immediate cash flow post-completion.
