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.
For more details, please read the press release.