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.