---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-117504"
form_type: "8-K/A"
ticker: "TBPH"
cik: "0001583107"
company_name: "Theravance Biopharma, Inc."
filed_at: "2022-11-14T23:59:59+00:00"
generated_at: "2026-06-21T20:13:41.385871+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Theravance Biopharma completes sale of TRC units to Royalty Pharma for $1.107 billion cash

## Summary
- Sold 2,125 Class B and 6,375 Class C units of Theravance Respiratory Company to Royalty Pharma on July 20, 2022.
- Total cash consideration of $1.107 billion, net of $420 million payoff of 9.5% non-recourse notes due 2035.
- Pro forma net gain of approximately $931.8 million recorded, with estimated income tax payable of $120.6 million.
- Pro forma financials show elimination of $148.3 million equity investment and $396.1 million non-recourse notes.
- Transaction qualifies as discontinued operations; pro forma net loss of $68.1 million for six months ended June 30, 2022.

## SEC filing metadata
- accession: 0001104659-22-117504
- form_type: 8-K/A
- ticker: TBPH
- cik: 0001583107
- company_name: Theravance Biopharma, Inc.
- filed_at: 2022-11-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1583107/000110465922117504/0001104659-22-117504-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1583107/000110465922117504/tm2229804d4_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-117504
- JSON: https://secwatch.observer/filing/0001104659-22-117504.json
- Plain text: https://secwatch.observer/filing/0001104659-22-117504.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.