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Royalty Pharma, Ascendis Pharma Unit Have $150 Million Royalty Funding Agreement
2024-09-04 05:49
05:49 PM EDT, 09/03/2024 (MT Newswires) -- Royalty Pharma plc (RPRX) entered into a $150 million capped synthetic royalty funding agreement with an Ascendis Pharma (ASND) unit.
The Ascendis Pharma Bone Diseases subsidiary will get an upfront payment of $150 million in exchange for a 3% royalty on US net sales of Yorvipath, a hormone replacement therapy, the companies said Tuesday.
The royalty payments to Royalty Pharma will stop once they have reached twice the initial amount, or 1.65 times the initial amount if achieved by Dec. 31, 2029.
Ascendis Pharma shares tumbled 20% in recent after-hours trading, and Royalty Pharma rose 1.1%.
Price: 107.15, Change: -27.53, Percent Change: -20.44
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