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Royalty Pharma plc (Nasdaq: RPRX) is the leading acquirer of revenue-producing intellectual property, primarily focusing on royalty interests in marketed and late-stage biopharmaceutical products. Established in 1996, the company has built a robust portfolio with over $13 billion in assets and has invested nearly $5.8 billion to date. Royalty Pharma excels in acquiring and managing diverse royalty interests across various therapeutic areas, mitigating the common risks associated with biopharmaceutical investments.
Royalty Pharma's portfolio includes royalties on more than 35 commercial products, such as AbbVie and Johnson & Johnson's Imbruvica for blood cancers, Biogen's Tysabri for multiple sclerosis, and Vertex's cystic fibrosis drugs. The company also holds interests in 14 development-stage products, demonstrating its commitment to funding innovation in the biopharmaceutical sector.
Recent achievements include a $525 million acquisition of royalties and milestones on frexalimab, a promising therapy developed by Sanofi for multiple sclerosis and other immune-mediated diseases. This transaction enhances Royalty Pharma's development-stage portfolio, reinforcing its potential for long-term growth.
Financially, Royalty Pharma reported first-quarter 2024 results reflecting strong royalty receipts growth, driven by key therapies like Trelegy and Vertex’s cystic fibrosis franchise. The company maintains a solid liquidity position with $843 million in cash and cash equivalents and a total debt of $6.3 billion.
Royalty Pharma's strategic partnerships span a broad spectrum of innovators, from academic institutions and research hospitals to leading global pharmaceutical companies. This extensive collaboration network underscores the company's pivotal role in advancing medical research and providing essential funding for late-stage clinical trials and new product launches.
For more information, visit www.royaltypharma.com.
Royalty Pharma (Nasdaq: RPRX) has awarded its inaugural Prize for Impact in Healthcare to Michael Milken, founder of the Milken Institute, Faster Cures, and the Prostate Cancer Foundation. The prize includes a $250,000 charitable donation to support medical research initiatives. Milken's Prostate Cancer Foundation has raised over $1 billion since 1993, supporting 2,240 research projects across 245 cancer centers in 28 countries, leading to FDA approval of six new drugs for advanced prostate cancer. The foundation's work has contributed to declining prostate cancer mortality rates over the past two decades.
Royalty Pharma (RPRX) has announced the acquisition of a synthetic royalty on U.S. sales of RYTELO from Geron for $125 million in cash upfront. RYTELO, FDA-approved in June 2024 for treating low- to intermediate-1 risk myelodysplastic syndromes with transfusion-dependent anemia, will generate tiered royalty payments ranging from 7.75% on annual net sales up to $500 million, 3.0% on sales between $500 million-$1 billion, and 1.0% on sales over $1 billion. The agreement includes provisions for royalty payment cessation based on multiple thresholds of the initial investment.
Royalty Pharma (RPRX) reported strong Q3 2024 results with Portfolio Receipts growing 15% to $735 million and net cash from operations reaching $704 million. The company deployed approximately $1.2 billion in capital during the quarter and raised its full-year 2024 guidance, now expecting Portfolio Receipts between $2,750-$2,800 million. Notable achievements include acquiring royalties on three innovative therapies and FDA approvals for Cobenfy, Tremfya, and Voranigo. The company's performance was driven by strong growth from products including Trelegy, Evrysdi, cystic fibrosis franchise, and Tremfya.
Royalty Pharma has entered into a $350 million synthetic royalty funding agreement with Syndax Pharmaceuticals based on U.S. net sales of Niktimvo. Under the agreement, Syndax will receive an upfront payment in exchange for a 13.8% royalty on U.S. net sales, with payments ceasing upon reaching a 2.35x multiple. The funding is expected to support Niktimvo's upcoming launches and development, with Syndax's proforma cash approaching $800 million as of June 30. Niktimvo is positioned as a first-in-class product targeting chronic graft-versus-host disease (GVHD) treatment.
Syndax Pharmaceuticals (SNDX) has secured a $350 million synthetic royalty funding agreement with Royalty Pharma based on U.S. net sales of Niktimvo™. Under the agreement, Syndax will provide a 13.8% royalty on U.S. net sales until reaching a 2.35x multiple. The funding is expected to support the upcoming product launches and development of Niktimvo and revumenib, with proforma cash approaching $800 million as of June 30. The deal aims to fund Syndax through profitability while maintaining participation in Niktimvo's profits and future growth potential. Niktimvo is positioned as a first-in-class treatment for chronic graft-versus-host disease (GVHD).
Royalty Pharma plc (Nasdaq: RPRX) has announced its plans to release its third quarter 2024 financial results on Wednesday, November 6, 2024, before the U.S. financial markets open. The company will also host a conference call and simultaneous webcast at 8:30 a.m. Eastern Time on the same day.
Investors and interested parties can access the conference call information and view the live webcast by visiting the 'Investors' page on Royalty Pharma's official website. For those unable to attend the live event, a replay of the conference call and webcast will be archived on the company's website for at least 30 days, ensuring accessibility to the financial update.
Royalty Pharma plc (Nasdaq: RPRX) has announced its dividend for the fourth quarter of 2024. The company's board of directors has approved a dividend payment of $0.21 per Class A ordinary share. This dividend will be distributed on December 10, 2024, to shareholders who are on record as of the close of business on November 15, 2024. The announcement demonstrates Royalty Pharma's commitment to returning value to its shareholders through regular dividend payments.
Royalty Pharma and Ascendis Pharma have entered into a $150 million capped synthetic royalty funding agreement based on U.S. net sales of Yorvipath, the first FDA-approved treatment for hypoparathyroidism in adults. Ascendis will receive an upfront payment of $150 million in exchange for a 3% royalty on U.S. net sales of Yorvipath. The royalty payments will cease upon reaching a multiple of 2.0x, or 1.65x if achieved by December 31, 2029.
This agreement supports Ascendis Pharma's continued development and commercialization of Endocrine Rare Disease products, including the Yorvipath U.S. commercial launch. The transaction reflects the significant value of Yorvipath and Ascendis' commitment to reducing capital costs while maintaining flexibility to support global commercial capabilities.
Royalty Pharma plc (Nasdaq: RPRX) has announced its participation in Morgan Stanley's 22nd Annual Global Healthcare Conference. The company will be featured in a fireside chat on September 5, 2024, at 9:15 a.m. ET. This event presents an opportunity for investors and interested parties to gain insights into Royalty Pharma's operations and strategy.
The presentation will be accessible via webcast from the company's official website, specifically the 'Events' page in the Investors section. For those unable to attend live, the webcast will be archived for a minimum of thirty days, allowing for later viewing. This participation underscores Royalty Pharma's commitment to engaging with the investment community and sharing its perspective on the healthcare sector.
Royalty Pharma (Nasdaq: RPRX) reported strong financial results for Q2 2024, showcasing a 12% growth in Portfolio Receipts to $608 million and 11% growth in Royalty Receipts to $605 million. The company raised its 2024 full-year guidance for Portfolio Receipts to $2,700-$2,775 million. Highlighting their capital deployment of over $2 billion, investments spanned six therapies, including notable partnerships with Cytokinetics, PTC Therapeutics, and Agios. Significant clinical updates featured positive Phase 3 results for Tremfya and FDA approval of Voranigo. Additionally, Royalty Pharma repurchased Class A ordinary shares worth $115 million YTD and maintained robust liquidity with $1.8 billion in cash and $7.8 billion in debt.
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