Zymeworks CEO says $1 billion Theravance acquisition offers strong value despite recent setbacks

Zymeworks chief executive Kenneth Galbraith explained why the company believes its near-$1 billion purchase of Theravance makes strategic sense.

He noted that Theravance has faced operational difficulties, including two rounds of workforce reductions and a series of setbacks that have slowed its momentum.

Galbraith argued that the acquisition provides Zymeworks with valuable assets and pipeline opportunities that justify the price, positioning the combined entity for future growth.

The comments were made in an interview published on June 29, 2026, and highlight the rationale behind the deal as a long-term investment rather than a short-term gain.