- Theravance Biopharma ( NASDAQ: TBPH ) has launched a $250M capital return program, the biopharmaceutical company announced on Monday.
- The firm plans to initiate a Dutch auction tender offer to purchase ~$95M of its ordinary shares in the near term. It is also looking at an open market stock repurchase plan to enable the repurchase of approximately $60M of its ordinary shares subsequent to the completion of the tender offer, with a goal to complete this program by the end of 2023.
- In addition, Theravance ( TBPH ) has executed a definitive agreement with GSK ( GSK ) to purchase all of its equity stake in TBPH, constituting ~9.6M shares at $9.75/share, with a closing date of Sep 20, 2022.
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Theravance Biopharma announces $250M capital return program