What Innoviva does

Innoviva is a diversified biopharmaceutical company operating three distinct pillars: a durable respiratory royalty portfolio from long-standing GSK-partnered products (Breo Ellipta, Anoro Ellipta, Trelegy), a commercial-stage critical care and infectious disease platform branded Innoviva Specialty Therapeutics (IST), and a strategic healthcare investment portfolio. The company was incorporated in 1996 as Advanced Medicine, later renamed Theravance, and rebranded to Innoviva in January 2016, having originally been established to maximize royalty streams from respiratory products co-developed with GSK. Innoviva is publicly traded on NASDAQ under ticker INVA, headquartered in Burlingame, California, and led by CEO Pavel Raifeld (appointed May 2020) with CFO Steve Basso.

The IST commercial platform markets five FDA-approved products: GIAPREZA (angiotensin II for septic shock), XERAVA (eravacycline for intra-abdominal infections), XACDURO (sulbactam-durlobactam for carbapenem-resistant Acinetobacter pneumonia), ZEVTERA (dalbavancin launched mid-2025 for skin infections), and NUZOLVENCE (zoliflodacin, approved December 2025 as the first new gonorrhea treatment in nearly two decades). FY2025 net product sales reached $172.1M, a 77% year-over-year increase, with U.S. net product sales of $119.2M growing 47% year-over-year. The company generates approximately $250M in gross annual royalty revenue from GSK respiratory products, with expected cumulative royalties exceeding $1.2B through 2030, and reported total FY2025 revenue of $411.3M (15% YoY growth) with $271.2M in net income.

Innoviva's business model combines licensing royalties, direct specialty pharmaceutical sales through its own U.S. commercial organization, international distribution partnerships (Dr. Reddy's for XACDURO in select territories), and strategic capital deployment through minority investments and credit facilities (Armata Pharmaceuticals, Beacon Biosignals, Syndeio Biosciences). The company acquired the LYNX long-acting oral drug delivery platform from Lyndra Therapeutics in 2025 for $10.2M and launched wholly owned subsidiary Nortiva Bio in 2026 to develop once-monthly oral therapies, including a Gates Foundation-funded contraceptive program. With $550.9M in cash and a $614M strategic investment portfolio at the start of 2026, Innoviva pursues a hybrid royalty-asset-management model that funds acquisitions, investments, and share repurchases ($125M program initiated in Q4 2025).

Name

Innoviva

Legal name

Innoviva, Inc.

Website

https://inva.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Innoviva is a diversified biopharmaceutical company operating a GSK respiratory royalty portfolio, a commercial critical care and infectious disease platform (Innoviva Specialty Therapeutics) with five FDA-approved antibiotics, and strategic healthcare investments including the LYNX drug delivery platform.

Ownership category

akta.pro rank

Product category

Specialty Pharmaceuticals

SIC

Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

Infectious Disease & Antimicrobials Pharmaceuticals (HLAIAAAG)

akta.pro secondary industries

Specialty Injectable & Infusion Therapies (Cross-therapeutic) (HLAIACAO), Endocrinology & Reproductive Health Pharmaceuticals (incl. Women’s Health) (HLAIAAAJ)

Keywords

• Specialty biopharmaceuticals
• Infectious disease therapeutics
• Pharmaceutical royalty management
• Critical care antibiotics
• Long-acting drug delivery

Headquarters

HQ city

Brisbane

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Supply Chain

Revenue model

1. Respiratory Royalties from GSK: Royalty streams from respiratory assets partnered with GSK including Relvar Breo Ellipta and Anoro Ellipta, generating approximately $250 million in gross royalty revenue annually. These royalties from COPD and asthma inhaled therapies are expected to exceed $1.2 billion through 2030.
2. Product Sales (Innoviva Specialty Therapeutics): Net product sales from marketed critical care and infectious disease products including GIAPREZA ($72M in 2025), XACDURO ($33M in 2025), ZEVTERA (launched mid-2025), and NUZOLVENCE (FDA-approved December 2025). IST segment achieved 77% increase in net product sales to $172.1M for full year 2025, with 47% year-over-year U.S. net product sales growth to $119.2M.
3. Strategic Healthcare Investments: Portfolio of strategic healthcare investments currently valued at over $600 million, providing optionality, downside protection, and long-term value creation. Includes investments in Armata Pharmaceuticals, Beacon Biosignals, and other healthcare assets.
4. License Revenue: Revenue from licensing and distribution agreements including the Dr. Reddy's agreement for XACDURO covering South and Central America, Caribbean, Russia, and CIS regions, which includes upfront payments, regulatory and commercial milestones, and sales royalties.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Innoviva is a diversified biopharmaceutical company that develops, acquires, and commercializes critical care and infectious disease therapies through its Innoviva Specialty Therapeutics platform, generates durable cashflows from royalty streams on GSK-partnered respiratory products (Breo Ellipta, Anoro Ellipta), and maintains a strategic healthcare investment portfolio. Its commercial portfolio includes FDA-approved antibiotics GIAPREZA, XERAVA, XACDURO, ZEVTERA, and NUZOLVENCE.

Product overview

Innoviva is a diversified biopharmaceutical company operating three divisions: (1) a royalty portfolio generating durable cashflows from GSK-partnered respiratory products including Breo Ellipta and Anoro Ellipta; (2) Innoviva Specialty Therapeutics (IST), a critical care and infectious disease platform commercializing five FDA-approved products: GIAPREZA, XERAVA, XACDURO, ZEVTERA, and NUZOLVENCE; and (3) strategic healthcare investments including the LYNX drug delivery platform operated through subsidiary Nortiva Bio, and holdings in companies like Armata Pharmaceuticals, Beacon Biosignals, and Syndeio Biosciences.

Differentiator

Problem solved

Functional benefit

Brands

• GIAPREZA: FDA-approved treatment for infectious diseases/critical care
• XERAVA
• XACDURO
• ZEVTERA
• NUZOLVENCE
• LYNX
• Nortiva Bio

Products and services

• GIAPREZA FDA-approved angiotensin II injection used to treat septic or distributive shock, marketed to hospitals and critical care prescribers.
• XERAVA FDA-approved eravacycline antibiotic for the treatment of complicated intra-abdominal infections in adults.
• XACDURO FDA-approved sulbactam-durlobactam antibiotic for hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia caused by Acinetobacter baumannii-calcoaceticus complex.
• ZEVTERA FDA-approved dalbavancin antibiotic for the treatment of acute bacterial skin and skin structure infections (ABSSSI) in adults, launched in the U.S. in mid-2025.
• NUZOLVENCE (zoliflodacin) First-in-class single-dose oral antibiotic approved by the FDA in December 2025 for the treatment of uncomplicated urogenital gonorrhea in adults.
• Breo Ellipta (Royalty Asset) GSK-partnered inhaled respiratory therapy (fluticasone furoate and vilanterol) for the treatment of asthma and COPD, generating royalty revenue for Innoviva.
• Anoro Ellipta (Royalty Asset) GSK-partnered inhaled respiratory therapy (umeclidinium and vilanterol) for the treatment of COPD, generating royalty revenue for Innoviva.
• LYNX Drug Delivery Platform Proprietary drug delivery platform that can transform daily oral pills into long-acting oral therapies with single doses lasting up to a month; developed through subsidiary Nortiva Bio.

Quantifiable outcome

• 47% year-over-year growth in Innoviva Specialty Therapeutics U.S. net product sales to $119.2M
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core.

• Dr. Reddy's LaboratoriescoreChannel Partner/ Reseller/ Distributor · 16 June 2026Innoviva Specialty Therapeutics entered an exclusive licensing and distribution agreement with Dr. Reddy's Laboratories to commercialize XACDURO, an FDA-approved antibiotic for hospital-acquired and ventilator-associated bacterial pneumonia, across South and Central America, the Caribbean, Russia, and the CIS region. Dr. Reddy's will handle development, regulatory approval, and commercialization in those territories while Innoviva retains rights in all other regions and will receive upfront payment, milestone payments, and tiered royalties. The partnership addresses carbapenem-resistant Acinetobacter infection rates exceeding 70% in target regions, classified by WHO as a critical threat pathogen.
• Lyndra TherapeuticscoreTechnology or Integration · 1 January 2025Innoviva acquired the LYNX drug delivery platform from Lyndra Therapeutics in 2025 for $10.2 million plus up to $20 million in milestones and royalties. The platform enables transformation of daily pills into long-acting oral therapies with potential monthly dosing intervals.
• GSKcoreStrategic or Co-development Partner · 1 January 2022Long-term strategic partnership with GSK for respiratory products including Relvar Breo Ellipta and Anoro Ellipta, generating approximately $250 million in gross royalty revenue annually with expected $1.2 billion+ through 2030. Innoviva previously repurchased GSK's equity stake in 2021.

Scale indicators16 records

Recent moves8 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/innoviva

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innoviva