Innoviva is a diversified biopharmaceutical company that generates revenue through two distinct models: tiered royalties on respiratory drugs partnered with GSK, including RELVAR/BREO ELLIPTA and ANORO ELLIPTA for chronic obstructive pulmonary disease and asthma, and direct sales of critical care and infectious disease products marketed through its wholly owned platform. The critical care portfolio includes FDA-approved hospital-focused therapeutics for acute conditions such as septic shock, antibiotic-resistant infections, and gonorrhea, with products reimbursed through hospital diagnosis-related group systems rather than traditional pharmacy channels. The company also holds equity stakes in healthcare companies and pursues strategic acquisitions in areas of significant unmet medical need, combining stable respiratory royalty flows with growth in hospital-based infectious disease markets.