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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 (RPRX) expects 2024 Portfolio Receipts of approximately $2.8 billion, reaching the upper end of guidance, driven by ~13% year-over-year growth in Royalty Receipts. The company deployed $2.8 billion in royalty transactions during 2024, including a record year for synthetic royalty deals at $925 million.
The company's development-stage pipeline, comprising over 40 projects, has the potential to generate peak royalties exceeding $1.2 billion annually. This is based on projected un-risk adjusted peak sales of over $21 billion for potential therapies in the late-stage pipeline.
In 2025, Royalty Pharma will benefit from several new product launches, including Voranigo, Yorvipath, Niktimvo, Rytelo, and Cobenfy. The company expects Adjusted EBITDA of $2,560-2,570 million and Portfolio Cash Flow of $2,450-2,455 million for full year 2024.
Royalty Pharma (RPRX) announced two major initiatives to enhance shareholder value: the acquisition of its external manager, RP Management, , and a new $3 billion share repurchase program. The internalization transaction will generate significant cash savings exceeding $100 million in 2026 and $175 million in 2030, with cumulative savings of over $1.6 billion over ten years.
The acquisition involves approximately 24.5 million shares of Royalty Pharma equity vesting over 5-9 years, $100 million in cash, and assuming $380 million of existing Manager debt. The total transaction value is approximately $1.1 billion. The company plans to repurchase $2 billion of shares in 2025, subject to market conditions.
The integration will simplify corporate structure, enhance governance, ensure management continuity, and increase economic returns on investments. Royalty Pharma maintains its commitment to mid-single digit annual dividend growth and investment grade credit rating.
Royalty Pharma (RPRX) has announced a 5% increase in its quarterly dividend for the first quarter of 2025. The company will pay a dividend of $0.22 per Class A ordinary share, up from the previous quarter's dividend. The payment is scheduled for March 10, 2025, and shareholders must be on record by the close of business on February 21, 2025 to receive the dividend.
Royalty Pharma (Nasdaq: RPRX) has announced its participation in two major healthcare investor conferences in December 2024. The company will present at the 7th Annual Evercore ISI HealthCONx Conference on December 3 at 12:55 p.m. ET, followed by Citi's 2024 Global Healthcare Conference on December 4 at 1:45 p.m. ET. Both presentations will be available via webcast on the company's investor relations website and will remain archived for at least thirty days.
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.
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