Royalty Pharma Appoints Henry A. Fernandez as Lead Independent Director

Rhea-AI Summary

The Board of Directors of Royalty Pharma (Nasdaq: RPRX) has appointed Henry A. Fernandez as Lead Independent Director. Fernandez, CEO of MSCI, will also serve on the Audit Committee. CEO Pablo Legorreta highlighted Fernandez's leadership and business acumen, noting the expected benefits for Royalty Pharma's governance and operations. Fernandez expressed his commitment to maintaining strong oversight in his new role. Royalty Pharma, established in 1996, is the largest buyer of biopharmaceutical royalties and funds innovation in the industry.

Positive

• Appointment of Henry A. Fernandez as Lead Independent Director may strengthen governance.
• Fernandez's extensive experience may provide valuable insights for business growth.

Negative

• Potential concerns about continuity with new leadership.
• Experience gaps due to recent management changes.

NEW YORK, March 30, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Royalty Pharma plc (Nasdaq: RPRX) today announced that the independent directors of the Board have unanimously appointed Henry A. Fernandez as Lead Independent Director. Mr. Fernandez is Chairman and Chief Executive Officer of MSCI Inc. Mr. Fernandez will continue to serve on the Audit Committee of Royalty Pharma plc.

“We are further strengthening the governance of Royalty Pharma with this new key role," stated Pablo Legorreta, founder, CEO and Chairman of Royalty Pharma. “Henry has a record of exceptional leadership having led MSCI from a nascent index business to a leading global provider of critical decision support tools for the investment community. Henry has demonstrated tremendous business acumen, a strong entrepreneurial spirit, unwavering integrity and a clear focus on corporate responsibility. During his tenure at MSCI, he has delivered significant value creation for all stakeholders. Royalty Pharma will benefit greatly from Henry’s extensive experience as we continue to build upon our unique leadership position at the heart of funding biopharma innovation to improve the lives of patients globally," Legorreta added.

“I am honored to be selected for this Board role,” said Henry A. Fernandez. “I have observed the high caliber of the people at Royalty Pharma and the strength of the business model as a longtime shareholder and as a Board member since August 2020. I look forward to providing strong independent oversight as Lead Independent Director.”

About Henry A. Fernandez

Henry A. Fernandez has served as Director and Chairman of MSCI Inc. since 2007 and as Chief Executive Officer since 1998. Before leading MSCI’s transition to becoming a fully independent, public company in 2007, he was a Managing Director at Morgan Stanley from 1983 to 1991 and from 1994 to 2007, where he worked in emerging markets product strategy, equity derivative sales and trading, mergers and acquisitions, worldwide corporate finance and mortgage finance for U.S. financial institutions. Mr. Fernandez serves on the Board of Trustees for Stanford University as well as Memorial Sloan Kettering Cancer Center. Mr. Fernandez holds a Bachelor of Arts in economics from Georgetown University, an M.B.A. from the Stanford University Graduate School of Business and pursued doctoral studies in economics at Princeton University.

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, Orkambi, Symdeko and Trikafta, and five development-stage product candidates. For more information, visit www.royaltypharma.com.

Royalty Pharma Investor Relations and Communications

+1 (212) 883-6772
ir@royaltypharma.com

FAQ

Who has been appointed as the Lead Independent Director of Royalty Pharma?

Henry A. Fernandez has been appointed as the Lead Independent Director.

What experience does Henry A. Fernandez bring to Royalty Pharma?

Fernandez has extensive leadership experience as CEO of MSCI and a strong background in finance.

What role will Henry A. Fernandez have at Royalty Pharma?

He will serve as the Lead Independent Director and remain on the Audit Committee.

When was Henry A. Fernandez appointed as Lead Independent Director?

He was appointed on March 30, 2021.

How might the appointment of Henry A. Fernandez impact Royalty Pharma?

His leadership may enhance governance and provide valuable insights for the company's growth.