Zymeworks (ZYME) said Monday it has completed its acquisition of Theravance Biopharma, adding Yupelri, a treatment for the long-term maintenance of chronic obstructive pulmonary disease, to its portfolio.

The company said it expects 2026 revenue of $278 million to $292 million, including collaboration revenue from Yupelri.

Yupelri, marketed through Theravance's partnership with Viatris, generated $133.1 million in sales in H1 2026. Zymeworks said it is entitled to 35% of net US profits from the drug and royalties on sales outside the US.

The acquisition was financed with a $350 million non-recourse loan from OMERS Life Sciences and about $217.5 million of Zymeworks' cash.

Zymeworks said it expects acquisition and restructuring-related costs of about $25 million to $30 million. It also expects a potential $100 million milestone payment related to Trelegy Ellipta in Q1 2027, subject to the milestone being met.