NEW YORK, NY--(Marketwire - May 18, 2011) - Royalty Pharma is pleased to announce that George Lloyd has joined the company as Executive Vice President, Investments.
Mr. Lloyd's primary responsibility is negotiating, structuring and executing royalty investments in the United States and internationally. "The addition of George to our growing management team is the natural progression of a long and productive working relationship," said Pablo Legorreta, founder and Chief Executive Officer of Royalty Pharma. "Over the past five years, George's transactional and financial expertise has been integral to the successful execution of over $3 billion in royalty acquisitions for Royalty Pharma. We are very pleased to have him join Royalty Pharma."
Prior to joining Royalty Pharma, Mr. Lloyd was a partner in Goodwin Procter LLP's Private Equity Group. Prior to that, Mr. Lloyd was a partner at Testa Hurwitz & Thibeault, LLP, where he was co-head of the Mergers and Acquisitions Group, and an associate at Davis Polk & Wardwell, where he was in the Mergers & Acquisitions Group. Mr. Lloyd's legal practice focused on public and private mergers and acquisitions, leveraged buyouts, leveraged recapitalizations, venture capital financing, mezzanine lending, public offerings, public and private high yield offerings, and general corporate representation for private equity firms, public and private corporations, entrepreneurs and investment banks. In 2002-2003, Mr. Lloyd worked in Hong Kong as the chief financial officer and general counsel of the Asian operations of one of his clients. Mr. Lloyd received an A.B. from Princeton University and a J.D. degree from New York University Law School, where he was on the Law Review.
About Royalty Pharma
Royalty Pharma is a unique company and the industry leader in acquiring revenue-producing intellectual property -- principally royalty interests in marketed and late stage biopharmaceutical products -- with approximately $5.4 billion in royalty assets and over $500 million in cash-on-hand. In 2010, our revenues were $810 million and EBITDA was $785 million. Royalty Pharma currently owns a well-diversified portfolio of royalty interests, which includes several high quality blockbuster biopharmaceutical products, including Amgen's Neupogen®/Neulasta®, Genentech/Roche's Rituxan®, Pfizer's Lyrica®, J&J/Centocor's Remicade®, Abbott's Humira®, Gilead's Emtriva®/Truvada®/Atripla®, and Celgene's Thalomid®, among others. Royalty Pharma has a 15-year history of providing value to sellers of such assets, as demonstrated by its $700 million acquisition of the Humira® royalty from AstraZeneca in 2006 following AstraZeneca's acquisition of Cambridge Antibody Technologies (CaT), its $700 million acquisition of the Lyrica® royalty from Northwestern University in December 2007, its $650 million acquisition of the Remicade® from New York University in May 2007, and its joint $525 million acquisition with Gilead Sciences of Emory University's Emtriva®/Truvada®/Atripla® royalty interest in 2005. In two separate transactions, Royalty Pharma also provided Memorial Sloan-Kettering Cancer Center with over $400 million for its royalty interests in Neupogen®/Neulasta®. These transactions demonstrate Royalty Pharma's deep financial resources and ability to work successfully with a broad range of partners. For more information, visit www.royaltypharma.com