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Royalty Pharma plc reports developments tied to its biopharmaceutical royalty portfolio and life-sciences funding model. The company acquires existing royalties from medicine innovators and enters direct funding arrangements, including co-funding for late-stage clinical trials and product launches, in exchange for future royalties.
Recurring news covers Portfolio Receipts, Royalty Receipts, operating cash flow, guidance, dividends, royalty transactions, and updates from commercial products and development-stage candidates. Company announcements also address R&D funding collaborations, portfolio clinical and regulatory developments, leadership additions in partnering and technology, investor conference appearances, and scientific initiatives such as the Royalty Pharma Translational Prize.
The board of directors of Royalty Pharma plc (Nasdaq: RPRX) has approved a dividend payment of $0.17 per class A share for the second quarter of 2021. This dividend will be paid on June 15, 2021, to shareholders on record as of May 20, 2021. Royalty Pharma is recognized as the largest purchaser of biopharmaceutical royalties and plays a significant role in funding innovation in the biopharmaceutical sector, partnering with a range of companies to enhance their product launches and clinical trials.
Royalty Pharma has acquired Dicerna's royalty interest in OXLUMO for $180 million upfront and up to $60 million in sales-based milestones. OXLUMO, approved for treating primary hyperoxaluria type 1, is marketed by Alnylam Pharmaceuticals. This deal will extend Dicerna's cash runway into 2024, enhancing its ability to fund clinical operations, including the development of its lead candidate, nedosiran. Both companies highlight the innovative nature of RNAi therapeutics as a significant focus of this transaction.
Dicerna Pharmaceuticals (Nasdaq: DRNA) has agreed to sell its royalty interest in OXLUMO™ to Royalty Pharma (Nasdaq: RPRX) for an upfront payment of $180 million, plus potential sales-based milestones of up to $60 million. OXLUMO is FDA and EMA approved for treating primary hyperoxaluria type 1 and marketed by Alnylam Pharmaceuticals. This transaction is expected to extend Dicerna's cash runway into 2024, supporting ongoing clinical plans. The deal reflects Dicerna's commitment to addressing unmet medical needs in rare diseases, specifically primary hyperoxaluria.
Royalty Pharma (RPRX) has acquired royalty interests in Cabometyx and Cometriq from GlaxoSmithKline (GSK) for an upfront payment of $342 million, plus up to $50 million contingent on future regulatory approvals for prostate and lung cancer. Cabometyx is already approved for advanced renal cell carcinoma and hepatocellular carcinoma. In 2020, sales of Cabometyx were $742 million, and Cometriq's sales were €289 million. GSK retains a 3% royalty on worldwide net sales of cabozantinib products, while Royalty Pharma will receive royalties in non-U.S. markets and U.S. royalties through September 2026.
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.
Royalty Pharma (RPRX) reported strong financial results for Q4 2020, with net cash from operating activities rising 18% to $566 million. Adjusted Cash Receipts grew 9% to $484 million, driven by key assets like the cystic fibrosis franchise and Imbruvica. The company executed $2.4 billion in acquisitions, enhancing its diverse portfolio. For 2021, RPRX expects Adjusted Cash Receipts between $1,910 million and $1,960 million, reflecting a robust outlook with a projected CAGR of 7%-10% from 2020-2025. The firm also maintains a leading market share in biopharma royalty funding.
Royalty Pharma plc (Nasdaq: RPRX) will announce its fourth quarter 2020 financial results on February 17, 2021, prior to U.S. market opening. A conference call will follow at 8:00 a.m. Eastern Time, accessible via phone or a live webcast on the company's Investors page. Royalty Pharma is recognized as the largest buyer of biopharmaceutical royalties, maintaining a diverse portfolio that includes royalties from over 45 leading therapies, such as Imbruvica and Xtandi. The company focuses on funding innovation in the biopharmaceutical sector, facilitating late-stage clinical trials and new product launches.
Royalty Pharma (RPRX) has announced its acquisition of Minerva Neurosciences' royalty interest in seltorexant, an antidepressant, for an upfront payment of $60 million and up to $95 million in milestone payments. Seltorexant, currently in Phase 3 for treating major depressive disorder with insomnia, is developed by Janssen Pharmaceutica. The deal is expected to enhance Royalty Pharma's portfolio, while Minerva aims to use proceeds for the development of its lead compound, roluperidone, targeting negative schizophrenia symptoms.
Royalty Pharma (RPRX) has declared a $0.17 dividend per class A share for Q1 2021, marking a 13% increase over the previous quarter. This reflects the company's commitment to returning value to shareholders. The dividend will be paid on March 15, 2021, to shareholders on record as of February 19, 2021. As the largest buyer of biopharmaceutical royalties, Royalty Pharma continues to fund innovation in the sector, collaborating with various biotech and pharmaceutical companies.
Royalty Pharma (Nasdaq: RPRX) will present at the 39th Annual J.P. Morgan Healthcare Conference on January 12, 2021, at 10:50 a.m. EST. The presentation is open to investors, analysts, and the public, with a live webcast available at Royalty Pharma Events. A replay will be archived for at least 30 days. Founded in 1996, Royalty Pharma is a leading buyer of biopharmaceutical royalties and funds innovation across the industry, with a portfolio of royalties on over 45 commercial products.