Xoma Royalty is mentioned as a small royalty company that has been bidding on companies with royalties and commercial assets, and may be interested in Theravance.
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Theravance's strategic review with Andy Summers $TBPH
Mar 29, 2026
The Yet Another Value Podcast features a discussion with Andy Summers about Theravance (TBPH), a single-product pharmaceutical company focused on the COPD drug Yupelri. Both the host and guest disclose they are long the stock, highlighting its protected downside and interesting risk-reward profile. The drug is marketed in partnership with Viatris, with Theravance handling marketing in the hospital setting.
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Biogen is mentioned as a company that could have potentially bought Sage Pharmaceutical.
Supernus is mentioned as the acquirer of Sage Pharmaceutical at a low price.
Arcellx was acquired by Gilead for almost $8 billion, involving an oncology program and future royalty stream.
Gilead acquired their partner Arcellx for almost $8 billion, buying out the future royalty stream on an unlaunched oncology drug.
Novo Nordisk is mentioned as having acquired Emisphere, which received a royalty on oral semaglutide (oral Wegovy).
Viatris is seen as a low-risk capital deployment opportunity as they can consolidate economics of a drug onto their P&L, which is a growth asset for them.
Theravance (TBPH) is presented as a favorite setup with a protected downside and attractive risk-reward, with both host and guest holding significant positions.
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TBPHbuy opened Mar 29, 2026
+12.27%