Royalty Pharma Announces Expansion of Leadership Team
Royalty Pharma plc (Nasdaq: RPRX) expands its leadership team, promoting Jim Reddoch to Chief Scientific Officer and Marshall Urist to Executive Vice President, Co-Head of Research & Investments. Sandy Balkin joins as Senior Vice President, Strategy and Analytics. This strategic restructuring aims to enhance the company's capabilities in evaluating and executing new investment opportunities. The leadership change reflects a commitment to leveraging data analytics for innovation in the biopharmaceutical sector, amidst growing transaction activities.
- Promotion of Jim Reddoch enhances leadership with a focus on scientific direction in the company.
- Marshall Urist's promotion is expected to strengthen the Research & Investments group.
- Sandy Balkin's expertise in data analytics may improve investment decision-making processes.
- Potential concerns about continuity and experience gaps with new leadership roles.
NEW YORK, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced an expansion of its leadership team:
- Jim Reddoch, PhD will assume increased responsibilities with a new role of Chief Scientific Officer, which is in addition to his position as Co-Head of Research & Investments.
- Marshall Urist, MD, PhD has been promoted to Executive Vice President and Co-Head of Research & Investments.
- Sandy Balkin, PhD will join Royalty Pharma as Senior Vice President, Strategy and Analytics.
Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer, commented “We are thrilled to expand Jim’s role and promote Marshall to co-head the Research & Investments group. This team is rapidly growing and with our increased transaction activity, these new roles expand our bandwidth to better assess and execute on the many opportunities to continue to grow our business.”
“We are in a golden age of biotechnology innovation. With the creation of the Chief Scientific Officer role and the implementation of a new Strategy and Analytics group, we plan to increase our use of data and analytics. Sandy is uniquely positioned to bridge the worlds of data and biopharma innovation, adding a new dimension to Royalty Pharma’s analytical capabilities.”
In his role as Executive Vice President, Research & Investments, Jim Reddoch has led the team at Royalty Pharma that focuses on sourcing and analyzing new investment opportunities and partnerships for over 12 years. In his capacity as Chief Scientific Officer, he will continue to deepen the team’s knowledge base and will work with Sandy to build out a newly created Strategy and Analytics function which will further expand Royalty Pharma’s rigorous approach to mapping out and vetting opportunities to fund innovation in life sciences.
Marshall Urist has sourced and analyzed numerous royalty acquisitions as Senior Vice President, Research & Investments since joining Royalty Pharma in 2013. As co-head of the Research & Investments group, he will provide leadership and forward-thinking as Royalty Pharma’s opportunities to partner with life science innovators expands. Pablo Legorreta remarked, “Marshall’s medical and scientific experience will provide unique direction to the Research & Investments group.”
Sandy Balkin joins Royalty Pharma from Truist Securities where he was head of data strategy and data science, setting priorities for the bank and collaborating with research analysts on novel projects. Previously, he was head of integrated insights and platforms at Sanofi. He has also held leadership positions at Pfizer and Boehringer Ingelheim, with an emphasis on data and analytics. Sandy has a PhD in business administration with a focus on statistics from Penn State.
About Royalty Pharma plc
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly - directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 45 commercial products, including AbbVie and J&J’s Imbruvica, Astellas and Pfizer’s Xtandi, Biogen’s Tysabri, Gilead’s HIV franchise, Merck’s Januvia, Novartis’ Promacta, and Vertex’s Kalydeco, Symdeko, Orkambi and Trikafta, and four development-stage product candidates. For more information, visit www.royaltypharma.com.
Royalty Pharma plc’s Forward-Looking Statements
The information set forth herein does not purport to be complete or to contain all of the information you may desire. Statements contained herein are made as of the date of this document unless stated otherwise, and neither the delivery of this document at any time, nor any sale of securities, shall under any circumstances create an implication that the information contained herein is correct as of any time after such date or that information will be updated or revised to reflect information that subsequently becomes available or changes occurring after the date hereof. This document contains statements that constitute “forward-looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995, including statements that express the company’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results, in contrast with statements that reflect historical facts. Examples include discussion of Royalty Pharma’s strategies, financing plans, growth opportunities and market growth. In some cases, you can identify such forward-looking statements by terminology such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project,” “expect,” “may,” “will,” “would,” “could” or “should,” the negative of these terms or similar expressions. Forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to the company. However, these forward-looking statements are not a guarantee of Royalty Pharma’s performance, and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other variable circumstances, and other factors. Such risks and uncertainties may cause the statements to be inaccurate and readers are cautioned not to place undue reliance on such statements. Many of these risks are outside of Royalty Pharma’s control and could cause its actual results to differ materially from those it thought would occur. The forward-looking statements included in this document are made only as of the date hereof. Royalty Pharma does not undertake, and specifically declines, any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments, except as required by law. Certain information contained in this document relates to or is based on studies, publications, surveys and other data obtained from third-party sources and Royalty Pharma’s own internal estimates and research. While Royalty Pharma believes these third-party sources to be reliable as of the date of this document, it has not independently verified, and makes no representation as to the adequacy, fairness, accuracy or completeness of, any information obtained from third-party sources. In addition, all of the market data included in this document involves a number of assumptions and limitations, and there can be no guarantee as to the accuracy or reliability of such assumptions. Finally, while the company believes its own internal research is reliable, such research has not been verified by any independent source. For further information, please reference Royalty Pharma’s reports and documents filed with the U.S. Securities and Exchange Commission (“SEC”) by visiting EDGAR on the SEC’s website at www.sec.gov.
Royalty Pharma Investor Relations and Communications
+1 (212) 883-2295
ir@royaltypharma.com
FAQ
What are the new leadership changes at Royalty Pharma (RPRX)?
Why did Royalty Pharma (RPRX) expand its leadership team?
What roles will Sandy Balkin play at Royalty Pharma (RPRX)?
What impact could the leadership changes have on Royalty Pharma (RPRX)?
