Theravance Biopharma increases buyback to $325M, announces formal strategic review

Theravance Biopharma, Inc.

Capital Return Program increased to $325M; $170M remaining expected by end of 2023; $27M repurchased YTD 2023.
Q4 2022 YUPELRI sales $19.5M (up 27% YoY); TRELEGY global net sales $537M (up 13% YoY).
Non-GAAP profit expected in 2H 2023; 2023 R&D guidance $35-45M, SG&A $45-55M.
Appointed Susannah Gray (ex-Royalty Pharma CFO) to Board; Board declassification proposal submitted.
Announced formal strategic review; responding to Irenic Capital's activist claims.

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