Theravance Biopharma (TBPH) announced on Thursday that Viatris has received regulatory approval in China for Yupelri, a once-daily nebulized treatment for chronic obstructive pulmonary disease.
The company stated that the approval would result in a $7.5 million milestone payment to Theravance from Viatris, expected in Q3, and that it could also earn up to $37.5 million in future sales-based milestones, as well as 14-20% royalties on Chinese net sales.
Viatris is responsible for all aspects of the development and commercialization of Yupelri in China, it added.
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