2024-05-11 06:23:38 ET
Summary
- Royalty Pharma reports Q1 earnings with a 14% growth in portfolio receipts and net cash from operating activities at $665 million.
- The company continues to acquire royalties, including Sanofi's potential blockbuster drug Frexalimab.
- Royalty Pharma confirms its 2024 full-year guidance and has a strong track record in late-stage opportunities. Our buy is confirmed.
On 09/05/2024, Royalty Pharma plc (RPRX) reported its Q1 results. Since September 2023, our team decided to initiate the company with a strong buy recommendation. For our new readers, Royalty Pharma is the world's largest buyer of biopharmaceutical royalties and was incorporated in 1996. The company's royalty portfolio entitles it to payments based directly on the turnover of many leading therapies. Our rating was supported by:
- A unique exposure, boasting a diversified portfolio and lower operational risk compared to its competitors;
- An analysis of the Vertex franchise with manageable downside risk and supportive new royalties acquisition with potential blockbuster aims thanks to a solid balance sheet;
- A valuation discount compared to other royalties companies.
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For further details see:
Royalty Pharma: Solid Start Of The Year, Buy Confirmed