The Life Sciences team advised Royalty Pharma plc (Nasdaq: RPRX) on the acquisition of the residual royalty interest in Vertex Pharmaceuticals, Inc.’s cystic fibrosis (CF) treatments owned by the Cystic Fibrosis Foundation. The agreement includes an upfront payment of $575 million and a potential milestone payment of $75 million.
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies.
This deal serves as the capstone to when Goodwin previously represented Royalty Pharma on its $3.3 billion acquisition of the CF Foundation’s royalties on Vertex Pharmaceuticals’ CF treatments in 2014.
The Goodwin team was led by Robert Crawford, Jacqueline Mercier, Sarah Stoiberg and Brett Jackson.
For more details, please read the press release.