Britain’s GSK exits Innoviva stake in $392 million deal By Reuters

(Reuters) – GSK said on Thursday it sold its entire shareholding in Innoviva back to the U.S.-based biopharmaceutical company for about $392 million, as the British drugmaker simplifies its operations ahead of a split into two businesses.

The terms of the two companies’ existing collaboration on respiratory treatments is not affected by the sale, GSK said. Under that deal, GSK pays royalties to Innoviva on drugs Trelegy Ellipta, Relvar/Breo Ellipta and Anoro Ellipta.