Innoviva Q3 gross royalties $65.6M, income before taxes surges to $286.4M on TRC sale gain

Innoviva, Inc.

2022-Q3 EPS reported $3.07 revenue$265,536,000

Gross royalty revenues of $65.6M (flat YoY) from RELVAR/BREO ($55.7M) and ANORO ($9.9M).
Income before taxes rose to $286.4M from $123.2M, primarily due to gain from sale of 15% TRC interest to Royalty Pharma for $282M.
Completed acquisitions: Entasis for $42.4M and La Jolla for net cash $150.5M, expanding hospital/infectious disease portfolio.
Board authorized new $100M share repurchase program; no termination date, management discretion.
GSK reported RELVAR/BREO net sales $371.1M (+3% YoY) and ANORO $153.0M (-15% YoY), reflecting currency and pricing headwinds.

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