06:40 AM EDT, 06/02/2025 (MT Newswires) -- Theravance Biopharma ( TBPH ) said Monday it agreed to sell its remaining royalty interest in Trelegy Ellipta's net sales to GSK (GSK) for $225 million in cash.

Under the terms of the deal, Theravance will maintain its right to get up to $150 million in remaining Trelegy sales-related milestones in 2025 and 2026 from Royalty Pharma ( RPRX ) .

Theravance said its 2025 outlook remains unchanged.

Theravance shares were up nearly 13% in recent premarket activity, while GSK rose 1.1%.