Royalty Pharma, which describes itself as the largest buyer of biopharmaceutical royalties, files a registration statement for its proposed initial public officer of class A ordinary shares.
The number of shares to be offered and the price range for the proposed offering haven’t been determined. Neither has the company applied for a trading symbol yet.
The IPO is expected to start after the Securities and Exchange Commission completes its review process.
J.P. Morgan, Morgan Stanley, BofA Securities, Goldman Sachs, Citigroup, and UBS Investment Bank are acting as joint lead book-running managers and as representatives of the underwriters for the proposed offering.
In 2019, the company generated operating cash flow of $1.67B, adjusted cash receipts of $2.11B, and adjusted cash flow of $1.64B.
Among drugs in its portfolio are Vertex’s Trikafta, Biogen’s Tysabri, Abbvie and J&J’s Imbruvica, and Merck’s Januvia.
Intends to use the net proceeds to acquire royalties and for general corporate purposes.