Management StrategyThe move to internalize the manager simplifies financial reporting and provides clear alignment between management and shareholders, but it might disrupt current operations.
Market CompetitionTremfya should fight Skyrizi to a draw in ulcerative colitis, and RPRX garners a tiered mid-single digit royalty on Tremfya through 2031-32.
Pipeline ChallengesThe company's growth profile is above the peer average, yet the lack of an internal pipeline could pose challenges to adapting to potential changes in the regulatory environment.