Press Release May 01, 2014

Goodwin Procter Represents Royalty Pharma in $415 Million Acquisition of Revenue Rights from Forest and Furiex

Goodwin Procter attorneys recently advised client Royalty Pharma on its acquisition of certain revenue rights relating to alogliptin, SYR-472 (trelagliptin) and Priligy® (dapoxetine) currently held by Furiex Pharmaceuticals. Royalty Pharma entered into an agreement with Forest Laboratories, a $24 billion NYSE-traded pharmaceutical company, to acquire the assets for $415 million in conjunction with Forest’s acquisition of Furiex for $1.1 billion in cash.

Royalty Pharma, based in New York City, is an industry leader in acquiring royalty interests in marketed and late-stage biopharmaceutical products. The company also funds late-stage clinical trials in exchange for royalty interests. Royalty Pharma was founded in 1996 and has approximately $10 billion in assets.

The Goodwin team advising Royalty Pharma was led by partners John Haggerty and Karen Spindler, and included associate Sean Doran.

Press coverage of the transaction included articles in The New York Times, Bloomberg, and Reuters. For more information on the transaction, please read the press release.