China Approves First Once-Daily Nebulized LAMA for COPD, Triggering $7.5M Milestone for Theravance
- China's NMPA has approved YUPELRI (revefenacin) as the first once-daily nebulized long-acting muscarinic antagonist for maintenance treatment of chronic obstructive pulmonary disease.
- The regulatory approval triggers a $7.5 million milestone payment from Viatris to Theravance Biopharma, with additional sales milestones up to $37.5 million and tiered royalties of 14-20% on net sales.
- Viatris assumes full responsibility for YUPELRI's launch and commercialization in China, while Theravance incurs no commercial costs in the region.
- The approval strengthens Theravance's financial position, which includes $131 million in cash and potential near-term milestone payments from multiple revenue streams.
Theravance Biopharma
Posted 6/27/2023