Theravance Advances Respiratory Program via Glaxo Partnership

The goal of the deal between Glaxo and Theravance is to pool programs in order to develop a best-in-class long-acting beta agonist. That Glaxo is contributing its most advanced compounds to the program and has agreed to pay royalties even on LABAs it may develop separately validates Theravance's technology. But it also shows how Glaxo is weighing the value of external vs. internal R&D.