March 4 Shares of Theravance Inc rose
14 percent after a brokerage said a positive outcome for the
company's respiratory drug could lead to a takeover of the
company, which is one-quarter owned by GlaxoSmithKline Plc
"We believe approval for Anoro by year end could lead to an
eventual takeout," Piper Jaffray analysts M Ian Somaiya, Do Kim
and Matthew Luchini said in a note to clients.
Glaxo and Theravance have a partnership to develop
respiratory drugs, including Breo and Anoro to help succeed
Glaxo's blockbuster Advair.
Theravance could not immediately be reached for comment.
Shares of Theravance, which has a market value of $2
billion, jumped to a high of $23.95 before easing back a little
to $23.43 on the Nasdaq by early afternoon.
(Reporting by Saumyadeb Chakrabarty in Bangalore; Editing by