May 24, 2021

Willkie represented Innoviva in the transaction.

On May 20, Innoviva, Inc. (NASDAQ: INVA) announced the execution of definitive agreement to purchase Glaxo Group Limited’s (GSK) 32% equity stake in Innoviva. The stake constitutes approximately 32 million shares, or 32% of the outstanding common stock, at $12.25 per share, for a total purchase price of $392 million.

Innoviva, Inc. is a company with a portfolio of royalties that include respiratory assets partnered with Glaxo Group Limited, including RELVAR®/BREO® ELLIPTA® (fluticasone furoate/ vilanterol), ANORO® ELLIPTA® (umeclidinium bromide/ vilanterol) and TRELEGY® ELLIPTA® (the combination FF/UMEC/VI).

The Willkie team was led by partners Jared Fertman and Russell Leaf.