Royalty Pharma plc (RPRX) IPO Opens 57% Higher

Today's IPO for Royalty Pharma plc (NASDAQ: RPRX) opened for trading at $44 after pricing 77,681,670 shares of its Class A ordinary shares at $28.

The underwriters have a 30-day option to purchase up to an additional 11,652,250 Class A ordinary shares from the company.

J.P. Morgan, Morgan Stanley, BofA Securities, Goldman Sachs & Co. LLC, Citigroup and UBS Investment Bank are acting as joint lead book-running managers and as representatives of the underwriters for the offering. Evercore ISI, Cowen and SunTrust Robinson Humphrey are also acting as joint book-running managers for the offering. BBVA, DNB Markets, Scotiabank, TD Securities, Academy Securities, AmeriVet Securities, Blaylock Van, LLC, Cabrera Capital Markets, LLC, R. Seelaus & Co., LLC, Ramirez & Co., Inc., Siebert Williams Shank and Tigress Financial Partners are acting as co-managers for the offering.

Founded in 1996, Royalty Pharma is 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. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly - directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 45 commercial products, including AbbVie and J&J’s Imbruvica, Astellas and Pfizer’s Xtandi, Biogen’s Tysabri, Gilead’s HIV franchise, Merck’s Januvia, Novartis’ Promacta, and Vertex’s Kalydeco, Symdeko and Trikafta, and three development-stage product candidates.

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