Royalty Pharma tops its record-setting $3.3B deal with CF Foundation, betting $575M more on Vertex's drugs
Royalty Pharma’s $3.3 billion deal with the Cystic Fibrosis Foundation to purchase royalties on Vertex’s CF franchise was its largest royalty deal ever. But that didn’t buy it all: Per the arrangement, if Vertex’s annual worldwide net sales go above $5.8 billion, 50% of the royalties go back to the CF Foundation.
Just as Vertex seems poised to reach that mark, Royalty Pharma CEO Pablo Legorreta is putting down $575 million in cash to eliminate that obligation and channel 100% of the cash stream into his shop.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.