Anoro is a combination of two drugs, and it is designed to treat chronic obstructive pulmonary disease. It is intended to be taken once per day with the companies' Ellipta inhaler. GlaxoSmithKline and Theravance asked U.S. regulators to approve the drug in December and they plan to file for marketing approvals in other countries later this year.
In 2012 the companies asked regulators in the U.S. and Europe to approve a lung disease drug called Breo. That drug is also designed to treat chronic obstructive pulmonary disease.
GlaxoSmithKline is based in London and it is one of the world's largest drug companies. It has been collaborating with Theravance on respiratory drugs for years, and it is also the largest owner of Theravance shares, with a 27 percent stake in the South San Francisco, Calif., company.
Theravance shares gained 75 cents, or 3.5 percent, to $22.47 in midday trading. GlaxoSmithKline stock rose 6 cents to $44.32.