Theravance Biopharma, Inc.

Theravance Biopharma is a U.S.-based biopharmaceutical company focused on developing and commercializing medicines for respiratory and other specialty indications. Its portfolio includes an approved COPD therapy, YUPELRI, and a late-stage investigational program, ampreloxetine, supported through a mix of internal development and collaboration arrangements.

−2,0 %

98,5 %

+66,9 %

10.93

10.93

— Theravance Biopharma, Inc.
%
Commercial respiratory medicine70% Approved inhaled therapy sold for maintenance treatment of COPD.
Collaboration revenue25% Revenue earned from partnered commercialization and licensing arrangements.
Licensing revenue5% Upfront or milestone-based licensing income from partnered assets.

Theravance Biopharma sells into the respiratory care market through healthcare providers, physicians, distributors, and...

  • COPD patients and prescribersprimary

    Buy and prescribe YUPELRI for maintenance treatment of COPD, especially where nebulized delivery is preferred.

  • Third-party payorsprimary

    Influence access, reimbursement, and formulary placement for YUPELRI and future products.

  • Healthcare providers and distributorssecondary

    Handle prescribing, dispensing, and distribution of the company’s commercial product.

  • Pharmaceutical partnerssecondary

    Collaborate on commercialization, milestones, royalties, and licensing arrangements.

  • Specialty neurology patientsemerging

    Potential future users of ampreloxetine if approved for symptomatic nOH in MSA.

Theravance Biopharma is headquartered in the United States and its commercial focus is primarily the U.S. COPD market...

  • •Headquartered in the United States
  • •YUPELRI is commercialized in the U.S. COPD market
  • •Revenue also includes partner-related collaboration and royalty streams
  • •Partner commercialization can create indirect exposure to non-U.S. markets
  • •Geography matters because reimbursement and regulation vary by market

The company’s strategy centers on sustaining YUPELRI’s commercial position while advancing ampreloxetine through...

01
Grow YUPELRI adoptionshort-term

Commercial revenue depends on physician, patient, and payor acceptance of the COPD product.

02
Advance ampreloxetinemedium-term

A successful late-stage program could add a new specialty medicine and diversify the portfolio.

03
Monetize collaborations and royaltiesmedium-term

Partnered arrangements provide non-dilutive revenue and reduce direct commercialization burden.

Theravance Biopharma is exposed to concentration risk because a large part of its business depends on YUPELRI and on...

high

Dependence on YUPELRI commercialization

A meaningful share of the company’s business is tied to one approved COPD product.

Scope
YUPELRI sales and related collaboration revenue
Materiality
high
high

Clinical development failure for ampreloxetine

Late-stage drug candidates can fail on efficacy, safety, or regulatory grounds.

Scope
Pipeline value and future product diversification
Materiality
high
high

Manufacturing and supply chain concentration

The company relies on single suppliers for YUPELRI API, drug product, and warehousing.

Scope
Product availability and regulatory compliance
Materiality
high
medium

Partner dependence

Milestones, royalties, and commercialization outcomes depend on third-party partners.

Scope
Viatris and other collaboration arrangements
Materiality
high
medium

Reimbursement and healthcare regulation

Payor coverage, anti-kickback rules, and pricing controls affect market access.

Scope
U.S. pharmaceutical commercialization
Materiality
high
Collaboration and licensing revenue recognition
Can create uneven quarterly revenue recognition
Royalty and milestone accounting
Can cause volatility in reported revenue
Contingent liabilities and indemnification obligations
May require accruals or disclosures
Development asset valuation
Could affect impairment assessments and balance sheet values

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: 29/04/2026