SOUTH SAN FRANCISCO, CA--(MARKET WIRE)--Jun 29, 2007 -- Theravance, Inc. (NasdaqGM:THRX - News) today announced that GlaxoSmithKline plc (NYSE:GSK - News) has elected not to exercise the call right granted to GSK as part of the companies’ 2004 Strategic Alliance to acquire 50% of Theravance’s outstanding common stock for $54.25 per share.
