Royalty Pharma PLC (RPRX) has released an update.
MorphoSys AG is set to be acquired by Novartis at €68 per share, backed by Royalty Pharma’s strategic financial support of up to $2.025 billion from their 2021 partnership. This deal facilitated MorphoSys’s acquisition of Constellation Pharmaceuticals and entitles Royalty Pharma to royalties on multiple therapies in various development stages, including potential blockbusters for myelofibrosis and Alzheimer’s disease. Royalty Pharma also benefits from a significant equity stake in MorphoSys and will receive repayment for Development Funding Bonds starting in late 2024, reflecting a substantial return on investment.
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For a comprehensive understanding of the announcement, you can read the full document here.
