ARWR - Arrowhead sells royalty interest in olpasiran to Royalty Pharma for $250M

• Arrowhead Pharmaceuticals ( NASDAQ: ARWR ) has sold royalty interest in Amgen's ( NASDAQ: AMGN ) olpasiran to Royalty Pharma ( NASDAQ: RPRX ) for $250M in cash upfront plus up to $160M in additional payments contingent on the achievement of certain clinical, regulatory, and sales milestones.
• Olpasiran is an siRNA therapeutic being developed by Amgen ( AMGN ) to reduce risk of cardiovascular disease.
• Royalty Pharma ( RPRX ) is acquiring Arrowhead’s ( ARWR ) entire royalty interest in olpasiran, which is a royalty up to the low double digits on worldwide net sales.
• Arrowhead ( ARWR ) will retain rights to the $400M in development, regulatory, and sales milestone payments potentially due from Amgen ( AMGN ) from the 2016 out licensing agreement.
• ARWR shares are up 1.35% premarket

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