Global healthcare group GlaxoSmithKline PLC (GSK.LN) said Wednesday it purchased 261,299 shares of common stock of Theravance Inc. (THRX) at a price of $25.60 per share, for a total investment of $6.7 million on May 3.
-Shares were purchased from Theravance pursuant to GlaxoSmithKline's right to acquire, on a quarterly basis, sufficient shares of common stock to maintain its ownership percentage in Theravance, taking into account the preceding quarter's net option exercise and equity vesting activity.
-GlaxoSmithKline's interest in Theravance now comprises 6,163,577 shares of Common Stock and 9,401,499 shares of Class A Common Stock, which together represent 19.01% of Theravance's outstanding capital stock.
