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]

Royalty Pharma
Public
Traded asNASDAQ: RPRX
IndustryBiopharmaceuticals
Founded1996
HeadquartersNew York City, New York, United States
Key people
Pablo Legorreta (Founder) [1]
Websitewww.royaltypharma.com

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]

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References

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