RPRX - Why Is Agios Pharmaceuticals Stock Trading Higher On Tuesday? | Benzinga
Tuesday, Agios Pharmaceuticals Inc (NASDAQ:AGIO) agreed to sell its rights to its 15% royalty on potential U.S. net sales of Servier’s vorasidenib to Royalty Pharma Plc (NASDAQ:RPRX).
Under the terms of the agreement, Agios will receive an upfront payment of $905 million upon FDA approval of vorasidenib, and Royalty Pharma will receive the entirety of the 15% royalty on annual U.S. net sales of vorasidenib up to $1 billion and a 12% royalty on annual U.S. net sales greater than $1 billion.
Agios will retain ...