The separation of Theravance, Inc.’s businesses into two independent, publicly traded companies is now expected to be completed during 2Q14. In conjunction with the separation, Theravance, Theravance Biopharma, Inc., and Glaxo Group Ltd. (GSK) have entered into a series of agreements clarifying the spin-off and operations, as well as the allocation of potential future royalties on sales of UMEC/VI/FF, MABA, MABA/ICS. Theravance will now receive 15% and Theravance Biopharma will receive 85%, adju...