Theravance, Inc. is a royalty management company. The Company is focused on managing its respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate/ vilanterol, FF/VI) and ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI), with the intention of providing capital returns to stockholders. RELVAR/BREO is a once-a-day combination inhaled respiratory medicine consisting of vilanterol (VI), a long-acting beta2 agonist (LABA) and fluticasone furoate (FF), an inhaled corticosteroid (FF/VI) delivered via the ELLIPTA dry powder inhaler. ANORO ELLIPTA is a dual bronchodilator consisting of umeclidinium (UMEC), a long-acting muscarinic antagonist (LAMA) and vilanterol (VI), a long-acting beta2 agonist (LABA) for the treatment of chronic obstructive pulmonary diseases (COPD). BREO ELLIPTA and ANORO ELLIPTA are not indicated for the relief of acute bronchospasm or the treatment of asthma in the United States and Canada.