NEW YORK (AP) — Theravance Inc. said Wednesday it is antibiotic Vibativ is now back on the market.
Vibativ was approved as a treatment for complex skin infections in 2010, and it was approved for use against hospital-acquired pneumonia in June 2013. It is Theravance's only approved drug.
Astellas Pharma helped Theravance develop and market the drug until Astellas terminated the partnership in early 2012. For a time Theravance couldn't market the drug because there was no FDA-approved manufacturing facility. However, the Food and Drug Administration has cleared the manufacture of the drug at a Hospira Inc. plant.
Shares of Theravance rose 19 cents to $36.99 in afternoon trading.
Theravance said earlier this year that it will split into two separate publicly traded companies. Theravance Biopharma will work on drug development and discovery, and Royalty Management Co. will manage the rights to potential royalty streams from its collaboration with British drug developer GlaxoSmithKline. Theravance announced the move after a royalty deal with Irish drugmaker Elan Corp. PLC fell through.