October 30, 2006 — In the largest pharmaceutical royalty deal on record, Royalty Pharma announced it has completed the purchase of the rights to a pre-existing royalty interest in HUMIRA® currently held by AstraZeneca plc's subsidiary, Cambridge Antibody Technology Limited (CAT). AstraZeneca will receive $700 million in cash for the sale, subject to adjustment for all royalty amounts accrued for and received by CAT since January 1, 2006. Following this transaction, Royalty Pharma will receive royalty revenue formerly payable to CAT based on all future sales of HUMIRA®. Royalty Pharma is the industry leader in acquiring revenue-producing intellectual property -- principally royalty interests in marketed and late stage biopharmaceutical products.
Goodwin Procter attorneys George Lloyd and Kingsley Taft represented Royalty Pharma in this transaction.