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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) 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.
Royalty Pharma (Nasdaq: RPRX) has appointed Molly Sawaya as Executive Vice President, Head of Human Capital. Sawaya joins from Hudson Bay Capital, where she was Managing Director and Head of Colleague Experience. She brings nearly 15 years of HR experience from global organizations, including QBE Insurance Group, Perpetual , and National Australia Bank.
Sawaya holds a Bachelor of Arts and Master of Applied Science in Psychology from the University of Sydney. CEO Pablo Legorreta emphasized her role in fostering a thriving work environment and supporting the company's growth as it continues to scale. This appointment aims to strengthen Royalty Pharma's leadership team and cultivate its unique culture.
Royalty Pharma plc (Nasdaq: RPRX) has announced that it will release its second quarter 2024 financial results on Thursday, August 8, 2024, before the U.S. financial markets open. The company will host a conference call and simultaneous webcast at 8:00 a.m. Eastern Time on the same day to discuss the results.
Investors can access the conference call information and view the live webcast on the 'Investors' page of Royalty Pharma's website. A replay of the conference call and webcast will be available on the company's website for at least 30 days after the event.
Royalty Pharma plc (Nasdaq: RPRX) has announced its dividend for the third quarter of 2024. The company's board of directors has approved a payment of $0.21 per Class A ordinary share. This dividend will be distributed on September 13, 2024, to shareholders who are on record as of the close of business on August 16, 2024. This announcement provides investors with information about the company's ongoing commitment to returning value to shareholders through regular dividend payments.
Royalty Pharma (Nasdaq: RPRX) announced its participation in the Goldman Sachs 45th Annual Global Healthcare Conference on June 11, 2024. The company will engage in a fireside chat scheduled for 2:00 p.m. ET. The event will be webcast live and later archived for at least thirty days, accessible through Royalty Pharma's Events page.
Royalty Pharma (Nasdaq: RPRX) announced the pricing of $1.5 billion in senior unsecured notes.
The offering includes $500 million of 5.150% Notes due 2029, $500 million of 5.400% Notes due 2034, and $500 million of 5.900% Notes due 2054. These notes will be guaranteed by Royalty Pharma Holdings.
The transaction is expected to close on June 10, 2024. Proceeds will be used for general corporate purposes.
Major financial institutions such as BofA Securities, Citigroup, and J.P. Morgan are among the joint lead book-running managers.
Royalty Pharma announced a $905 million agreement with Agios Pharmaceuticals to acquire future royalties on Servier’s vorasidenib, contingent on FDA approval. Vorasidenib, a targeted therapy for IDH-mutant glioma, has shown unprecedented efficacy and tolerability in Phase 3 trials and received priority review with a PDUFA date of August 20, 2024.
The drug is projected to achieve over $1 billion in annual peak sales in the U.S., potentially generating more than $150 million in annual royalties for Royalty Pharma. If approved, royalties may continue through 2038.
An investor call is scheduled for today, May 28, to discuss the deal.
Royalty Pharma and Cytokinetics announced an expanded strategic funding collaboration worth up to $575 million to support the commercialization of aficamten and advance Cytokinetics' cardiovascular R&D pipeline. The deal includes immediate $250 million funding and additional funding options tied to clinical and regulatory milestones. Key elements are commercial launch funding, royalty restructuring, development funding for clinical trials, and equity purchase by Royalty Pharma. This collaboration aims to fortify Cytokinetics' capital structure and help the company achieve its strategic goals in cardiology.
Royalty Pharma plc (Nasdaq: RPRX) will be presenting at upcoming investor conferences, including the RBC Capital Markets 2024 Global Healthcare Conference and BofA Securities 2024 Healthcare Conference in May. The webcasts will be available on Royalty Pharma's website for at least thirty days.
Royalty Pharma plc (Nasdaq: RPRX) reported 14% growth in Royalty Receipts driving Portfolio Receipts of $717 million for the first quarter of 2024. Full year 2024 guidance confirmed at $2,600 to $2,700 million with a commitment to grow dividends annually. The company's development-stage portfolio has expanded significantly, with key events expected in the coming year. Financial capacity of over $3.5 billion to execute transactions, despite a decline in Portfolio Receipts due to a high base of comparison. Strong Royalty Receipts growth and a focus on new royalty opportunities demonstrate a robust business strategy.
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