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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.
The board of directors of Royalty Pharma has approved a dividend of $0.15 per class A share for the fourth quarter of 2020. This dividend is set to be paid on December 15, 2020, to shareholders recorded by the close of business on November 20, 2020. Royalty Pharma is known for being the largest buyer of biopharmaceutical royalties, holding a portfolio that includes royalties on over 45 commercial products from major therapeutics companies.
Royalty Pharma plc (Nasdaq: RPRX) plans to offer 17,343,037 Class A ordinary shares in a public offering, with an option for underwriters to purchase an additional 2,601,455 shares. Proceeds from this offering will not benefit the company as they are for selling shareholders. Major underwriters include J.P. Morgan, Morgan Stanley, and Goldman Sachs. A registration statement has been filed with the SEC but is not yet effective, meaning shares cannot be sold until it is.
Royalty Pharma has completed a $6 billion offering of senior unsecured notes comprised of several tranches, maturing from 2023 to 2050. The proceeds will be used to repay existing term loans and cover related expenses. The offering was privately placed, exempt from registration under the Securities Act. Interest payments will occur semi-annually starting March 2021, reducing 2020 cash interest expense compared to prior loans. Royalty Pharma remains a key player in biopharmaceutical royalties, holding interests in over 45 commercial products, including drugs from major companies like AbbVie and Gilead.
Royalty Pharma has priced a $6 billion offering of senior unsecured notes, which includes various tranches maturing between 2023 and 2050. The offering aims to refinance existing loans and enhance financial flexibility, with a weighted average coupon of 2.125% and a maturity extension to 12.5 years. The notes are set for completion around September 2, 2020, and will be secured by Royalty Pharma Holdings Ltd. This deal will reduce the company's interest expense for 2020, transitioning from quarterly to semi-annual payments.
Royalty Pharma (RPRX) reported robust second-quarter 2020 results, showing a 33% rise in GAAP net cash from operating activities to $489 million. Adjusted Cash Receipts surged 24% to $462 million. The company anticipates 2020 Adjusted Cash Receipts between $1.720 billion and $1.760 billion, driven by a series of acquisitions totaling $1.7 billion. Key FDA approvals for drugs like Evrysdi and Trodelvy have enhanced their portfolio. Their IPO raised $1.9 billion, fueling future growth.
Biohaven Pharmaceutical has secured up to $250 million from Royalty Pharma to advance the development of zavegepant, a treatment for migraine and other indications. In exchange, Royalty Pharma will receive a 3% royalty on zavegepant sales and 0.4% on Nurtec ODT. The deal includes success-based milestone payments and a total of $200 million investment in commercial launch equity. The funding enhances Biohaven's CGRP receptor antagonist program, facilitating quicker expansion into new markets.
Royalty Pharma (RPRX) appointed Henry A. Fernandez and Ted W. Love, M.D. to its Board of Directors. Fernandez, CEO of MSCI, brings extensive finance expertise, while Love, CEO of Global Blood Therapeutics, contributes significant biopharma experience. This strategic enhancement follows their recent IPO, aimed at strengthening governance and business leadership. Fernandez will serve on the Audit Committee, and Love on the Nominating and Corporate Governance Committee, as Royalty Pharma continues to fund innovation within the biopharmaceutical sector.
Royalty Pharma (NASDAQ: RPRX) has scheduled its Q2 2020 financial results announcement for August 12, 2020, before U.S. markets open. The company will conduct a conference call at 8:00 AM ET on the same day, which will be available via webcast. Interested parties can join the live call by dialing the provided numbers and entering the passcode. Royalty Pharma is noted for its role in acquiring biopharmaceutical royalties and funding innovation within the industry, holding royalties from over 45 commercial products.
Royalty Pharma (Nasdaq: RPRX) has entered an agreement with PTC Therapeutics (Nasdaq: PTCT) to acquire a portion of the royalty interest in risdiplam for $650 million. Risdiplam, an oral therapy for spinal muscular atrophy (SMA), is under review by the FDA, with a PDUFA date set for August 24, 2020. This acquisition will minimally impact Royalty Pharma’s cash receipts and flow in 2020-2021 but is expected to enhance long-term growth. Royalty Pharma will acquire approximately 43% of the royalty, which ranges from 8% to 16% on worldwide risdiplam sales.
On June 25, 2020, New Ventures Funds announced the IPO of Royalty Pharma (NASDAQ:RPRX), raising $2.18 billion by selling 77,681,670 Class A shares at $28.00 per share. This marks the largest IPO of the year and the second largest in the pharmaceutical sector. With a portfolio of 45 marketed drugs and $18 billion in drug royalty transactions, Royalty Pharma aims to innovate within the biopharmaceutical ecosystem. New Ventures has invested in Royalty Pharma since 2006 and remains committed to supporting transformative healthcare investments.
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