Innoviva Q2 royalties up 7% to $111.7M; acquires Entasis, agrees to buy La Jolla

Innoviva, Inc.

2022-Q2 EPS reported $0.24 revenue$198,279,000

Royalties increased 7% to $111.7M in Q2 2022 vs Q2 2021.
Income from operations decreased 14% to $82.6M due to Entasis consolidation.
Completed acquisition of remaining ~40% of Entasis for $2.20/share ($42M total).
Entered merger to acquire La Jolla Pharmaceutical for $6.23/share (~$149M enterprise value).
Sold 15% stake in Theravance Respiratory Co. to Royalty Pharma for ~$282M upfront plus potential $50M milestone.

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