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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gsk Plc | LSE:GSK | London | Ordinary Share | GB00BN7SWP63 | ORD 31 1/4P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
2.50 | 0.15% | 1,707.50 | 1,707.50 | 1,708.50 | 1,711.00 | 1,695.50 | 1,705.00 | 976,332 | 12:10:41 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Pharmaceutical Preparations | 30.33B | 4.93B | 1.1970 | 14.19 | 69.93B |
By Colin Kellaher
Theravance Biopharma Inc. on Monday said it plans to buy back $250 million in stock through a three-step process.
The biopharmaceutical company, which has about 76.4 million shares outstanding and sports a market capitalization of nearly $770 million, said it agreed to buy the roughly 9.6 million shares held by U.K. pharma major GSK PLC for $9.75 apiece, a 3% discount to Friday's closing price of $10.07.
GSK, with a 12.6% stake, is Theravance's second-largest shareholder, according to data from FactSet.
Theravance also said it plans to launch a Dutch auction tender offer in the near term to buy back about $95 million worth of stock, followed by about $60 million in open-market repurchase, adding that it aims to complete the program by the end of next year.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 19, 2022 06:32 ET (10:32 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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