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Royalty Pharma Buys Royalty Interest In Cabozantinib Products From GSK

Royalty Pharma Buys Royalty Interest In Cabozantinib Products From GSK
  • Royalty Pharma Plc (NASDAQ: RPRX) has acquired a royalty interest in Cabometyx and Cometriq from GlaxoSmithKline Plc (NYSE: GSK) for an upfront payment of $342 million.
  • Under this transaction's terms, Royalty Pharma has purchased royalties on cabozantinib products' net sales in non-U.S. markets through the entire duration of the royalty and royalties on net sales in the U.S. through September 2026 after which U.S. royalties will remain with GSK.
  • The deal also includes up to $50 million in additional payments contingent on the achievement of cabozantinib's regulatory approvals for prostate cancer and lung cancer in the U.S. and Europe.
  • Cabometyx and Cometriq are marketed by Exelixis Inc (NASDAQ: EXEL) in the U.S. and their partner Ipsen (OCTMKTS: IPSEY) in regions outside the U.S. and Japan.
  • Cabometyx is marketed in Japan by Exelixis' partner Takeda Pharmaceutical Co Ltd (NYSE: TAK
  • GSK is entitled to a 3% royalty on worldwide net sales of cabozantinib products due to its 2002 collaboration with Exelixis.
  • In 2020, sales of Cabometyx and Cometriq reported by Exelixis and Ipsen were $742 million and €289 million, respectively.
  • Price Action: RPRX shares are trading 0.2% lower at $43.53 in the market trading session on the last check Thursday.

Related Articles (RPRX + GSK)

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Posted-In: Biotech M&A News Health Care Contracts General

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