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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 2022, highlighting an 8% increase in net cash from operating activities to $575 million and a 10% rise in Adjusted Cash Receipts to $524 million. The company announced transactions totaling $2.5 billion year-to-date, enhancing its royalty portfolio with significant acquisitions including GSK's Trelegy, while raising its 2022 guidance for Adjusted Cash Receipts to $2,275-$2,350 million. CEO Pablo Legorreta emphasized strong market positioning and growth potential, despite a decline in total revenues by 3% to $536 million.
In the second quarter of 2022, Innoviva reported a 7% increase in royalties to $111.7 million, with significant contributions from GSK's products. However, income from operations fell by 14% to $82.6 million due to Entasis' operating expenses. The company completed the acquisition of Entasis for $42 million and a merger agreement with La Jolla Pharmaceutical for $6.23 per share, enhancing long-term growth prospects. Innoviva sold a 15% stake in Theravance for $282 million, bolstering its cash position to $283.6 million as of June 30, 2022.
The board of directors of Royalty Pharma (RPRX) has declared a third-quarter dividend of $0.19 per Class A ordinary share. This dividend will be paid on September 15, 2022, to shareholders on record by the close of business on August 19, 2022. Royalty Pharma, a leader in biopharmaceutical royalties, supports innovation across the industry and has a portfolio that includes royalties on approximately 35 commercial products, enhancing shareholder value.
Royalty Pharma (Nasdaq: RPRX) announced its second quarter 2022 financial results will be reported on August 4, 2022, before U.S. market open. A conference call and webcast will follow at 8:00 a.m. Eastern Time. Royalty Pharma is the largest biopharmaceutical royalty buyer and a leading funder of innovation in the industry. Its portfolio includes royalties from 35 commercial products, including therapies from AbbVie, Johnson & Johnson, and Biogen. The company partners with various entities to fund clinical trials and product launches.
Innoviva has signed an agreement to sell its 15% stake in Theravance Respiratory Company (TRC) to Royalty Pharma for about $282 million upfront and a potential $50 million milestone payment. As part of the deal, Innoviva will maintain full ownership of TRC's private investments and retain royalty rights for ANORO and RELVAR ELLIPTA. The sale, expected to finalize in July 2022, allows Innoviva to bolster its cash position amid market uncertainties. CEO Pavel Raifeld expressed optimism about maximizing shareholder value through this transaction.
Royalty Pharma (RPRX) announced the acquisition of a royalty interest in TRELEGY ELLIPTA for $1.31 billion, with additional potential payments of up to $300 million based on sales milestones. TRELEGY, marketed by GSK, is a leading therapy for chronic obstructive pulmonary disease (COPD) and asthma, generating $1.68 billion in sales in 2021. This acquisition is expected to add at least $200 million to Royalty Pharma's Adjusted Cash Receipts by 2025, enhancing long-term growth and further diversifying its portfolio.
Theravance Biopharma announced an agreement to sell its 85% interest in GSK's TRELEGY ELLIPTA royalty rights to Royalty Pharma for over $1.5 billion in potential value, including approximately $1.1 billion upfront. The deal aims to enhance shareholder value by eliminating debt and returning capital. Additionally, Royalty Pharma will invest $40 million to advance ampreloxetine development for MSA. Following the transaction, Theravance expects to have $430 million in cash and aims for breakeven cash flow in the second half of 2022.
Royalty Pharma has acquired an ex-U.S. royalty interest in Gavreto from Blueprint Medicines for up to $340 million, comprising $175 million upfront and $165 million in potential milestone payments. Gavreto is a targeted therapy for certain RET-altered non-small cell lung cancers, approved in Europe since November 2021. This acquisition aligns with Royalty Pharma's strategy to invest in differentiated therapies addressing unmet medical needs. The royalty from Roche is expected to last until 2036 to 2040.
Blueprint Medicines (NASDAQ: BPMC) announced strategic financing collaborations with Sixth Street and Royalty Pharma (NASDAQ: RPRX) worth up to $1.25 billion, enhancing its financial position without shareholder dilution. The deal includes $575 million in cash at closing to support innovations and expand its pipeline, particularly for AYVAKIT and GAVRETO. The structured agreement involves various components, such as royalty monetization and credit facilities, aimed at driving growth in precision therapies for patients.
Royalty Pharma plc (Nasdaq: RPRX) will present at the Goldman Sachs 43rd Annual Global Healthcare Conference on June 14, 2022, at 2:20 p.m. ET. Interested parties can access the live webcast from Royalty Pharma's Events page, with an archive available for at least 30 days. The company is renowned for being the largest buyer of biopharmaceutical royalties and a key innovator funder, boasting a diverse portfolio of royalties linked to over 35 commercial products including notable therapies like Imbruvica and Xtandi.
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