<SUBMISSION>
<ACCESSION-NUMBER>0001102624-08-000058
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20080227
<ITEMS>8.01
<ITEMS>9.01
<FILING-DATE>20080303
<DATE-OF-FILING-DATE-CHANGE>20080303
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>THERAVANCE INC
<CIK>0001080014
<ASSIGNED-SIC>2834
<IRS-NUMBER>943265960
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>000-30319
<FILM-NUMBER>08660087
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>901 GATEWAY BLVD
<CITY>SOUTH SAN FRANCISCO
<STATE>CA
<ZIP>94080
<PHONE>6508086000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>901 GATEWAY BLVD
<CITY>S. SAN FRANCISCO
<STATE>CA
<ZIP>94080
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ADVANCED MEDICINE INC
<DATE-CHANGED>20000302
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>theravance8k.htm
<DESCRIPTION>THERAVANCE 8-K
<TEXT>
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<B>UNITED STATES</B><br>
<B>SECURITIES AND EXCHANGE COMMISSION</B><br>
Washington, D.C. 20549<p>
<hr size=1>
<p><b>FORM 8-K<p>
CURRENT REPORT
<p>
Pursuant to Section 13 or 15(d) of the<br>Securities Exchange Act of 1934.
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<p>
<b>
<table border=0 cellpadding=0 cellspacing=0>
<tr><td colspan=5 align=center>
<b>Date of Report: February     27, 2008</b><br>
(Date of earliest event reported)<br><br>
</td></tr>
<tr><td colspan=5 align=center>
<b>Theravance, Inc.</b><br>
(Exact name of registrant as specified in its charter)
</td></tr>
<tr><td colspan=5><br></td></tr>
<tr>
<td align=center colspan=2 width="40%" valign="top">
<b>Delaware</b><br>
(State or other jurisdiction <br>of incorporation)
</td>
<td align=center width="20%" valign="top">
<b>000-30319</b><br>
(Commission File Number)
</td>
<td align=center colspan=2 width="40%" valign="top">
<b>94-3265960</b><br>
(IRS Employer <br>Identification Number)
</td>
</tr>
<tr><td colspan=5><br></td></tr>
<tr>
<td align="center" colspan=2>
<b>901 Gateway Boulevard, South San Francisco, CA</b><br>
(Address of principal executive offices)
</td>
<td>&nbsp;</td>
<td align="center" colspan=2>
<b>94080</b><br>
(Zip Code)
</td>
</tr>
<tr><td colspan=5 align=center><br>
<b>650-808-6000</b><br>(Registrant's telephone number, including area code)
</td></tr>
<tr><td colspan=5><br></td></tr>
<tr><td colspan=5 align=center>
<b>Not Applicable</b><br>(Former Name or Former Address, if changed since last report)<br>
</td></tr>
</table>
</center>
<br><br>
</b>
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<br>
<dl>
 <dd><font face="wingdings">o</font> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
 <dd><font face="wingdings">o</font> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
 <dd><font face="wingdings">o</font> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  <br>
 <dd><font face="wingdings">o</font> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

  <br>
</dl>
<hr size=1>
<table width=100%>
<tr><td width="100%">
<b>Item 8.01. Other Events</b></b><br>
<br>
On March 3, 2008, Theravance, Inc. issued a press release providing additional information regarding the U.S. Food and Drug Administration's cancellation of the February 27, 2008 planned review of telavancin by the Anti-Infective Drugs Advisory Committee. A copy of the press release is filed as Exhibit 99.1 to this report and is incorporated herein by reference.
<p>
<b>Item 9.01. Financial Statements and Exhibits</b></b><br>
<br>
<b>(d) Exhibits</b><br>
<br>

<p>
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  99.1 &nbsp; &nbsp; &nbsp; <a href="theravanceinc8k3696.htm">Press Release of Theravance, Inc. dated March     03, 2008</a></b>
<p>
<p>
<hr size=1>
<b><center>SIGNATURE</center></b>
<p>
&nbsp; &nbsp; &nbsp; Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be
              signed on its behalf by the undersigned hereunto duly authorized.<p>
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</table>
<br>
<table>
<tr>
<td width="50%" valign=top>
Dated: March     03, 2008<br>
</td>
<td>
<b>THERAVANCE, INC.</b>
<p>
By: <u>&nbsp;/s/ Rick E Winningham &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; </u> <br>
&nbsp; &nbsp; &nbsp;Rick E Winningham<br>
&nbsp; &nbsp; &nbsp;<i>Chief Executive Officer</i><br>
</td></tr>
</table>
<hr>
<center>
<table border=0 width="100%">
<tr><td colspan=2>
<center><b>Exhibit Index</b></center>
</td>
</tr>
<tr>
<td width=50% align=center><b><u>Exhibit No.</u></b></td>
<td width=50% align=center><b><u>Description</u></b></td>
</tr>
<tr>
<td align=center>99.1</td>
<td align=center>Press Release of Theravance, Inc. dated March     03, 2008</td>
</tr>
</table>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>theravanceinc8k3696.htm
<DESCRIPTION>THERAVANCE PRESS RELEASE
<TEXT>

<p></p>
<b>Theravance Receives Additional Information Regarding FDA Cancellation of Advisory Committee Meeting</b>
<p>SOUTH SAN FRANCISCO, CA -- 03/03/2008 --   Theravance, Inc. (NASDAQ: THRX)
announced today that it has been informed by the U.S. Food and Drug
Administration (FDA) that the February 27th planned review of telavancin by
the Anti-Infective Drugs Advisory Committee (AIDAC) was cancelled on
February 23rd in order to allow time for the FDA to further evaluate study
site monitoring and study conduct to ensure data integrity in the ATLAS
Phase 3 program for the treatment of complicated skin and skin structure
infections (cSSSI). The FDA indicated that, due to study monitoring issues
at a single study site managed by the primary contract research
organization for the ATLAS program, the agency intends to evaluate
additional sites, and that additional questions could arise after further
evaluation.
</p>
<p>
"We were disappointed when we learned of the Advisory Committee meeting
cancellation," said Rick E Winningham, Chief Executive Officer. "Telavancin
was studied in a large, thoughtfully designed, and rigorously conducted
complicated skin and skin structure infection clinical development program.
On January 30, 2008, the FDA requested the removal of data generated by one
of our study sites from the AIDAC briefing documents. The removal of these
data had no material impact on the overall efficacy and safety results or
conclusions of the study previously reported, and we believed the site
issue had been adequately addressed by the data removal. We are committed
to working with the FDA to resolve outstanding issues related to the ATLAS
program."
</p>
<p>
About Theravance
</p>
<p>
Theravance is a biopharmaceutical company with a pipeline of internally
discovered product candidates. Theravance is focused on the discovery,
development and commercialization of small molecule medicines across a
number of therapeutic areas including respiratory disease, bacterial
infections and gastrointestinal motility dysfunction. Of the six programs
in development, four are in late stage -- its telavancin program focusing
on treating serious Gram-positive bacterial infections with Astellas Pharma
Inc., the Horizon program with GlaxoSmithKline plc, the Gastrointestinal
Motility Dysfunction program, and TD-1792, an investigational antibiotic
for the treatment of serious Gram-positive bacterial infections. By
leveraging its proprietary insight of multivalency toward drug discovery
focused primarily on validated targets, Theravance is pursuing a next
generation strategy designed to discover superior medicines in areas of
significant unmet medical need. For more information, please visit the
company's web site at www.theravance.com.
</p>
<p>
THERAVANCE&#174;, the Theravance logo, and MEDICINES THAT MAKE A DIFFERENCE&#174;
are registered trademarks of Theravance, Inc.
</p>
<p>
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. Theravance intends such forward-looking
statements to be covered by the safe harbor provisions for forward-looking
statements contained in Section 21E of the Exchange Act and the Private
Securities Litigation Reform Act of 1995. Examples of such statements
include statements relating to the goals and timing of seeking regulatory
approval of our product candidates (including with respect to telavancin
statements regarding any expectation (i) regarding the results of the
additional site evaluations planned by the FDA, (ii) that the third-party
manufacturer will successfully address the cGMP issues the FDA has noted or
(iii) that the FDA will approve the telavancin NDA on the basis of existing
preclinical and clinical data or at all) and the enabling capabilities of
Theravance's approach to drug discovery and its proprietary insights. These
statements are based on the current estimates and assumptions of the
management of Theravance as of the date of this press release and are
subject to risks, uncertainties, changes in circumstances, assumptions and
other factors that may cause the actual results of Theravance to be
materially different from those reflected in its forward-looking
statements. Important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements include,
among others, our dependence on third parties in the conduct of our
clinical studies, delays or failure to achieve regulatory approvals and
risks of relying on third-party manufacturers for the supply of our product
candidates. These and other risks are described in greater detail under the
heading "Risk Factors" contained in Theravance's Annual Report on Form 10-K
filed with the Securities and Exchange Commission (SEC) on February 26,
2008 and the risks discussed in our other periodic filings with the SEC.
Given these uncertainties, you should not place undue reliance on these
forward-looking statements. Theravance assumes no obligation to update its
forward-looking statements.

</p>
<pre>
Contact Information:

Allison Parker
Director, Investor Relations
650-808-4100
investor.relations@theravance.com</a>


</pre>
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