Theravance, Inc. (Theravance) is a biopharmaceutical company with a pipeline of internally discovered product candidates. The Company is focused on the discovery, development and commercialization of small molecule medicines across a number of therapeutic areas, including respiratory disease, bacterial infections and gastrointestinal motility dysfunction. Its programs include telavancin for the treatment of serious Gram-positive bacterial infections with Astellas Pharma Inc. (Astellas) and its Horizon program and the Bifunctional Muscarinic Antagonist-beta2 Agonist (MABA) program with GlaxoSmithKline plc (GSK). During the year ended December 31, 2008, Theravance owns 140 issued United States patents and 512 granted foreign patents. In addition, Theravance has 150 United States patent applications pending and 835 foreign patent applications pending as of December 31, 2008.