1/6/2014 6:43:43 AM
Royalty Pharma Acquires Additional Interest in TECFIDERA® for $510 Million
NEW YORK, Jan. 6, 2014 /PRNewswire/ -- Royalty Pharma announced today that it has acquired an additional interest in the earn-out payable to the former shareholders of Fumapharm AG for $510 million in cash.
The Fumapharm earn-out primarily represents an indirect interest in sales of Biogen Idec's TECFIDERA® (dimethyl fumarate), an oral therapeutic for the treatment of relapsing-forms of multiple sclerosis. The earn-out also includes an indirect interest in sales of FUMADERM, a therapeutic approved in Germany for the treatment of moderate to severe plaque psoriasis.
This acquisition follows Royalty Pharma's previous acquisition of an interest in the Fumapharm earn-out payments in May 2012 for $761 million.
About Royalty Pharma
Royalty Pharma is the industry leader in acquiring royalty interests in marketed and late stage biopharmaceutical products, with royalty interests in 39 approved products (including Abbott's Humira®, Johnson & Johnson's Remicade®, Prezista®, and Imbruvica®, Merck's Januvia®/Janumet®, Gilead's Atripla®, Truvada®, Emtriva®, Complera® and Stribild®, Cubist's Cubicin®, Pfizer's Lyrica®, Amgen's Neupogen® and Neulasta®, and Genentech's Rituxan®) valued at over $7 billion. Royalty Pharma has a seventeen year history of providing value to holders of royalty interests, including its $400 million purchase of 80% of Memorial Sloan-Kettering Cancer Center's Neupogen®/Neulasta® royalty, its $700 million acquisition of AstraZeneca's Humira royalty, its $700 million purchase of a portion of Northwestern University's Lyrica royalty, its $650 million purchase of New York University's Remicade royalty, its joint $525 million acquisition with Gilead Sciences of Emory University's emtricitabine royalty interest, its $609 million acquisition of Astellas Pharma's patent estate and associated royalty stream relating to the use of dipeptidyl peptidase IV (DPP-IV) inhibitors for the treatment of type 2 diabetes, its $761 million acquisition of a portion of the earn-out payable to the former shareholders of Fumapharm the value of which relates principally to Tecfidera®, and most recently its $485 million acquisition of Quest Pharmaceutical's Imbruvica® royalty. More information on Royalty Pharma is available at www.royaltypharma.com.
Alexander v. Perfall
VP, Investor Relations
+ 1 (212) 883-2298
SOURCE Royalty Pharma
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