Royalty Pharma Acquires Remaining Royalty Interest in Roche’s Evrysdi for $240 Million and Potential Milestones

Core Insights - Royalty Pharma has acquired 100% of the Evrysdi royalty from PTC Therapeutics for $240 million upfront and up to $60 million in sales-based milestones [1][2][3] Group 1: Transaction Details - The acquisition includes a tiered royalty structure of 8% to 16% on worldwide net sales of Evrysdi, with specific rates based on sales thresholds [3] - Royalty Pharma will receive 8% on sales up to $500 million, 11% on sales between $500 million and $1 billion, 14% on sales between $1 billion and $2 billion, and 16% on sales over $2 billion, starting in Q1 2026 [3] Group 2: Product Information - Evrysdi, marketed by Roche, is an oral treatment for spinal muscular atrophy and was approved by the FDA in 2020, treating over 21,000 patients globally [2] - In 2024, Evrysdi generated sales of approximately CHF 1.6 billion ($1.9 billion), reflecting an 18% year-over-year growth at constant exchange rates, with projections of reaching CHF 2.3 billion ($2.9 billion) by 2030 [2] Group 3: Company Overview - Royalty Pharma, founded in 1996, is the largest buyer of biopharmaceutical royalties and funds innovation across the biopharmaceutical industry [5] - The company has a diverse portfolio of royalties from over 35 commercial products, including notable therapies from Vertex, Johnson & Johnson, GSK, and others [5]