May 24, 2012 / 9:50 PM / 8 years ago

Theravance licenses antibiotic tech to Hospira

(Reuters) - Biopharmaceutical company Theravance Inc said it licensed its technology to manufacture antibiotic Vibativ to specialty medicines maker Hospira Inc.

The company would purchase from Hospira more than a majority of its Vibativ 750 mg dosage form requirements during the five-year agreement, Theravance said in a regulatory filing.

Vibativ is approved in Europe for the treatment of adults with nosocomial pneumonia and for bacterial skin infections in the United States and Canada.

Theravance said in January it was evaluating global commercialization alternatives for Vibativ after partner Astellas Pharma terminated the development and marketing agreement for the antibiotic.

Shares of Theravance closed at $21.83 on Thursday on the Nasdaq, while those of Hospira closed at $31.98 on the New York Stock Exchange.

Reporting by Balaji Sridharan in Bangalore; Editing by Sriraj Kalluvila

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