Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.
The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors. Royalty Pharma’s portfolio spans multiple therapeutic areas and stages of product life cycles; revenues are derived from sales of underlying drugs in markets around the world. Its business model is positioned to provide liquidity to biopharma owners while assuming the commercial and regulatory risk associated with future product sales.
Founded by Pablo Legorreta and headquartered in New York, Royalty Pharma completed a public listing on the Nasdaq under the ticker RPRX in 2020. The company operates globally, collecting royalties generated by product sales in multiple geographies and partnering with a wide range of industry participants. Pablo Legorreta, the company’s founder and long-time leader, has been a central figure in Royalty Pharma’s strategy of building a large, diversified portfolio of biopharma royalty assets.