Innoviva Board Recommends Shareholders Vote “FOR” All of Innoviva’s Qualified Directors on the WHITE Proxy Card
Value Creating Strategy Supported by Innoviva’s Most Important Partner, GlaxoSmithKline
Reasons to vote FOR Innoviva’s highly qualified nominees on the WHITE proxy card:
- The Company’s Board of Directors’ (the “Board”) plan is delivering value.
Innovivahas delivered a 32% compounded growth rate in royalties over the last 10 reported quarters.
- The Board is responsive to all of our shareholders. Your Board has determined to undertake a fresh, comprehensive review of all of our costs, including executive and director compensation structure.
- The Board’s working strategy is supported by our partner, GlaxoSmithKline plc (“GSK”). “GSK has been a long-time partner of
Innovivaand we continue to value the collaborative and productive relationship.” – GSK, Schedule 13D/A filed on April 13, 2017.
- The Board has the right experience. Our Board is comprised of 4 current or former CEOs, 2 former CFOs and 6 directors with relevant industry experience.
Reasons to discard Sarissa’s GOLD proxy card and vote on the WHITE card:
- Sarissa is seeking to change a successful strategy. Despite vocal support for the partnership from GSK, Sarissa is blindly insisting on destroying this working strategy. Why does Sarissa want to destroy a plan supported by Innoviva’s most important partner, GSK?
- Sarissa’s nominees are highly unqualified. The nominees are unquestionably tied directly or indirectly to Sarissa. One nominee is a film executive whose only experience seems to be loyalty to Sarissa. Is this the right team to change our proven strategy?
- Sarissa is seeking effective control. Sarissa originally launched its proxy fight by nominating 4 directors for our 7-person Board. Sarissa is still seeking to oust our CEO and Chairman from the Board and has publicly asked for the resignation of a fourth director from our Board.
- Sarissa has a history of destroying value. Prior experience plainly shows Sarissa’s haphazard supposed strategy destroys value.
The Annual Stockholders Meeting is now just a few days away. We urge our shareholders to vote on the WHITE proxy card in favor of the current Board to protect their investment and the long-term value of
Your Vote Is Important, No Matter How Many or How Few Shares You Own!
|If you have questions about how to vote your shares, please contact:|
INNISFREE M&A INCORPORATED
(888) 750-5834 (TOLL-FREE from the
or (412) 232-3651 (from other locations)
Banks and Brokers May Call Collect: (212) 750-5833
|Please simply discard any Gold proxy card that you may receive from Sarissa.|
|Returning a Gold proxy card – even if you “withhold” on Sarissa’s nominees –|
|will not help your Company, as it will revoke any vote you previously submitted|
on Innoviva’s WHITE proxy card.
Please visit http://investor.inva.com/proxy.cfm for more information.
ANORO®, RELVAR®, BREO® and ELLIPTA® are trademarks of the GlaxoSmithKline group of companies.
This press release contains certain “forward-looking” statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives and future events, including expected cost savings.
Eric d’Esparbes, 650-238-9640
Senior Vice President and Chief Financial Officer