Royalty Pharma is an acquirer of revenue-producing intellectual property – principally royalty interests in marketed and late stage biopharmaceutical products.
The company’s portfolio includes royalties on over 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 and Trikafta, and four development-stage product candidates.
The company is scheduled to list its Class A ordinary shares on the Nasdaq Global Select Market under the symbol “RPRX.” on June 16, 2020.
Royalty Pharma has offered to sell 60.0 million Class A ordinary shares and the selling shareholders will sell 10 million shares of Class A ordinary shares in the offering.
The underwriters have an option for 30 days to purchase up to an additional 4,288,710 Class A ordinary shares from the company and 6,211,290 Class A ordinary shares from the selling shareholders.
The initial public offering price is expected to be between $25.00 and $28.00 per share.
Underwriters of the IPO:
J.P. Morgan Securities, Morgan Stanley, BofA Securities, Goldman Sachs, Citigroup Global Markets Inc., UBS Securities LLC, Evercore Group, Cowen and Company, SunTrust Robinson Humphrey, BBVA Securities Inc., DNB Markets, Inc., Scotia Capital (USA) Inc., TD Securities (USA) LLC
For the three months ended March 2020, the company’s net income attributable to controlling interest plunged to $71.24 million from $367.44 million in the same period last year.
Total income and other revenues rose to $500.87 million from $434.88 million a year ago.
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