Royalty Pharma(RPRX)

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Royalty Pharma(RPRX) - 2022 Q4 - Earnings Call Transcript
2023-02-15 18:49
Financial Data and Key Metrics Changes - Adjusted cash receipts grew by 10% in Q4 2022 and for the full year, adjusted EBITDA increased by 10% and adjusted cash flow rose by 15% prior to the accelerated Biohaven redemption payments [15][22] - Total royalty receipts grew by 79% in Q4 and 24% for the full year 2022 compared to the respective year-ago periods, with adjusted cash receipts amounting to $1.1 billion in Q4, reflecting a 96% growth [41][42] - Adjusted cash flow for the full year was $2.2 billion, representing a margin of 80% [45] Business Line Data and Key Metrics Changes - The company added 6 new therapies to its portfolio, including the blockbuster Trelegy, contributing to strong financial performance [15][16] - Royalty contributions from cystic fibrosis franchise, Xtandi, Tremfya, and Trelegy royalties were significant, while losses were noted from the DPP-IV royalties and weaknesses in Imbruvica [41][42] Market Data and Key Metrics Changes - The royalty funding market has seen a sixfold increase in transactions from 2015 to 2022, with the dollar value of transactions rising tenfold to $6.2 billion [26][68] - Royalty Pharma accounted for more than $0.5 billion in transaction value and over 25% of transaction volume in 2022, maintaining a leading share in larger transactions [26] Company Strategy and Development Direction - The company aims to deploy $10 billion to $12 billion over the next 5 years, reflecting a significant increase in capital deployment goals [21][66] - The focus remains on investing in approved therapies, with approximately 70% of capital deployed since 2020 on approved products [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to adapt to changes in the industry, including the impact of the IRA, and highlighted the unique business model that minimizes early-stage development risk [54][72] - The company anticipates continued strong performance in 2023, with adjusted cash receipts expected to be in the range of $2.375 billion to $2.475 billion, excluding potential milestone payments [48] Other Important Information - The company has absorbed significant losses of exclusivity over the past two years while still delivering double-digit top line growth, showcasing the resilience of its business model [17][24] - The company has a strong financial position with $1.7 billion in cash and marketable securities at the end of December 2022, providing significant firepower for future acquisitions [46] Q&A Session All Questions and Answers Question: Thoughts on the current deal environment and funding challenges - Management noted a significant increase in the funnel of opportunities due to the challenging funding environment, leading to a higher capital deployment than in previous years [66][68] Question: Impact of IRA on royalty opportunities - Management believes the company is well-positioned to adapt to changes brought by the IRA, viewing it as an opportunity rather than a challenge [71][72] Question: Long-term prospects of Spinraza and market creation for Lp(a) - Management expressed confidence in Spinraza's role in SMA treatment and highlighted the potential for Lp(a) therapies to create a significant market, especially if clinical outcomes are favorable [83][74]
Royalty Pharma(RPRX) - 2022 Q4 - Annual Report
2023-02-14 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to __________ Commission file number 001-39329 Royalty Pharma plc (Exact name of registrant as specified in its charter) England and Wales 98-1535773 (State ...
Royalty Pharma(RPRX) - 2022 Q3 - Earnings Call Presentation
2022-11-08 15:43
ROYALTY PHARMA ROYALTY PHARMA Royalty Pharma plc Q3 2022 Financial Results November 8, 2022 2 Forward Looking Statements & Non-GAAP Financial Information This presentation has been prepared by Royalty Pharma plc (the "Company"), is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. The information set forth herein does not purport to be complete or to contain all of the information you may desire. Statements contained herein are mad ...
Royalty Pharma(RPRX) - 2022 Q2 - Earnings Call Presentation
2022-08-04 14:13
ROYALTY PHARMA ROYALTY PHARMA Royalty Pharma plc Q2 2022 Financial Results August 4, 2022 2 Forward Looking Statements & Non-GAAP Financial Information This presentation has been prepared by Royalty Pharma plc (the "Company"), is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. The information set forth herein does not purport to be complete or to contain all of the information you may desire. Statements contained herein are made ...
Royalty Pharma(RPRX) - 2022 Q2 - Quarterly Report
2022-08-03 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39329 Royalty Pharma plc (Exact name of registrant as specified in its charter) England and Wales 98-1535773 (State or other juri ...
Royalty Pharma(RPRX) - 2022 Q1 - Earnings Call Transcript
2022-05-05 18:09
Royalty Pharma plc (NASDAQ:RPRX) Q1 2022 Earnings Conference Call May 5, 2022 8:00 AM ET Company Participants George Grofik - Senior Vice President, Head-Investor Relations & Communications Terry Coyne - Executive Vice President & Chief Financial Officer Marshall Urist - Head, Research & Investments Chris Hite - Vice Chairman Conference Call Participants Chris Schott - JPMorgan Terence Flynn - Morgan Stanley Chris Shibutani - Goldman Sachs Geoff Meacham - Bank of America Umer Raffat - Evercore Andrew Baum - ...
Royalty Pharma(RPRX) - 2022 Q1 - Quarterly Report
2022-05-04 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39329 Royalty Pharma plc (Exact name of registrant as specified in its charter) England and Wales 98-1535773 (State or other jur ...
Royalty Pharma(RPRX) - 2021 Q4 - Annual Report
2022-02-14 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39329 Royalty Pharma plc (Exact name of registrant as specified in its charter) England and Wales 98-1535773 (State or other jurisdic ...
Royalty Pharma(RPRX) - 2021 Q3 - Quarterly Report
2021-11-09 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39329 Royalty Pharma plc (Exact name of registrant as specified in its charter) Indicate by check mark whether the registrant h ...
Royalty Pharma(RPRX) - 2021 Q2 - Earnings Call Presentation
2021-08-11 16:56
ROYALTY PHARMA ROYALTY PHARMA Royalty Pharma plc Q2 2021 Financial Results August 11, 2021 2 Forward Looking Statements & Non-GAAP Financial Information This presentation has been prepared by Royalty Pharma plc (the "Company"), is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. The information set forth herein does not purport to be complete or to contain all of the information you may desire. Statements contained herein are made ...