Royalty Pharma
Royalty Pharma is a biopharmaceutical company based in New York City that purchases economic interests in marketed and late stage biopharmaceutical products from life sciences organizations.[2] Royalty Pharma funds innovation in life sciences both directly and indirectly: directly when it partners with life sciences companies to co-develop and co-fund products in late-stage clinical trials, and indirectly when it acquires existing royalty interests from the original innovators (academic institutions, research hospitals, foundations and inventors).[3]
Public | |
Traded as | NASDAQ: RPRX |
Industry | Biopharmaceuticals |
Founded | 1996 |
Headquarters | New York City, New York, United States |
Key people | Pablo Legorreta (Founder) [1] |
Website | www |
History
Royalty Pharma was founded in 1996 by Pablo Legorreta.[4]
Mr. Legorreta, Chief Executive Officer, attended Universidad Iberoamericana and serves as a Board member for Epizyme Inc. and Giuliani S.p.A.[5]
In 2004, Royalty Pharma acquired Memorial Sloan Kettering Cancer Center’s royalty on Amgen's Neupogen / Neulasta for $263 million in cash.[6]
In 2007, Royalty Pharma acquired from Northwestern University its worldwide royalty interest in Pfizer’s Lyrica for $700 million in cash.[7]
In 2014, Royalty Pharma announced a $3.3 billion royalty transaction with Cystic Fibrosis Foundation Therapeutics.[8]
In February 2017, Royalty Pharma purchased a portion of the potential royalty due to Cytokinetics from Amgen on worldwide sales of omecamtiv mecarbil.[9]
In 2017, Royalty Pharma acquire Perrigo’s Tysabri royalty stream for $2.85 billion.[10]
In June 2020, Royalty Pharma completed its initial public offering (IPO) on the NASDAQ.[2]
Pharmaceutical royalties
Crysvita, purchased from Ultragenyx Pharmaceutical in 2019, treats X-linked hypophosphatemia (XLH) with radiographic evidence of bone disease in children 1 year of age and older and adolescents with growing skeletons.[11]
Humira, purchased from AstraZeneca in 2006, is used in adults to reduce the signs and symptoms of moderate to severe rheumatoid arthritis.[11]
Lyrica, purchased from Northwestern University in 2007, is indicated to treat diabetic nerve pain, post shingles pain andfibromyalgia.[12]
Tazverik, purchased from Eisai Co., LTD. is a treatment of epithelioid sarcoma and follicular lymphoma.[13]
Xtandi, purchased from UCLA in 2016, is a treatment for men with metastatic castration-resistant prostate cancer (CRPC).[14]
References
- "Meet The Secretive Wall Street Investor With The Billion Dollar Medicine Cabinet". Forbes. June 12, 2020.
- "Billionaire Pablo Legorreta's Big Royalty Pharma IPO Soars". Forbes. June 16, 2020.
- "Royalty Pharma: An Interesting Business". Seeking Alpha. June 21, 2020.
- "Pablo G Legorreta". Bloomberg. July 8, 2020.
- "Pablo Legorreta". The New York Academy of Sciences. July 7, 2020.
- "Cashing in on Royalties". Modern Healthcare. August 29, 2004.
- "Northwestern fetches $700 million for drug". Chicago Tribune. December 19, 2007.
- "Cystic Fibrosis Foundation Sells Drug Royalties for $3B". Bloomberg. November 19, 2014.
- "Cytokinetics and Royalty Pharma announce $100 million transaction for Omecamtiv Mecarbil". Reuters. February 2, 2017.
- "Perrigo to Sell Multiple-Sclerosis Drug Royalties for Up to $2.85 Billion". The Wall Street Journal. February 27, 2017.
- "Ultragenyx sells European royalty stake in rare disease drug for $320M". BioPharma Dive. December 18, 2019.
- "FDA opens US to Lyrica generics". LSIPR. July 24, 2019.
- "Epizyme's first-in-class Tazverik launch on track to top Gilead's Zydelig: analyst". Fierce Pharma. February 25, 2020.
- "UCLA will get hundreds of millions for rights to prostate cancer drug". Los Angeles Times. March 4, 2016.