Innoviva, a diversified holding company with a portfolio of royalties and a growing portfolio of innovative healthcare assets, completed the acquisition of La Jolla Pharmaceutical Company, a biopharmaceutical company that is focused on innovative therapeutics for chronic organ failure and cancer, for $149m. "This acquisition represents a significant step forward in advancing our strategy to diversify operations and adds a highly complementary commercial franchise to our portfolio to accelerate long-term growth. We look forward to welcoming the La Jolla team to Innoviva and building upon the success of GIAPREZA and XERAVA," Pavel Raifeld, Innoviva CEO.