Quick Take
Royalty Pharma (RPRX) has filed to raise $1.86 billion in an IPO of its Class A shares, per an amended registration statement.
The company purchases royalty interests in biopharmaceutical products and invests in clinical trial financings.
RPRX is essentially a private equity firm structure for pharmaceutical industry drug monetization and the IPO appears reasonably priced.
Company & Business
New York, NY-based Royalty Pharma was founded to purchase the rights to pharmaceutical royalties and use the funding to co-invest in promising trials and biotech equity opportunities.
Management is headed by CEO