Ge Long Hui·2025-08-25 11:02Group 1 - The core point of the article is that BeiGene (06160.HK) has entered into a royalty purchase agreement with Royalty Pharma, involving an upfront payment of $885 million and future royalty rights related to the monoclonal antibody Imdelltra [1][2]. Group 2 - Under the royalty purchase agreement, Royalty Pharma will pay an upfront fee of $885 million at closing and will acquire most of the rights to receive a tiered percentage of net revenue from Imdelltra sales outside of China [2]. - The agreement allows the seller to sell additional royalty rights to Royalty Pharma, potentially earning up to $65 million based on the value of the additional royalties [2]. - The company has assessed the royalty purchase agreement and expects the upfront payment to constitute a significant direct financial obligation under U.S. GAAP at the time of closing [3].