Royalty Pharma Acquires Royalty Interest in Gavreto From Blueprint Medicines for up to $340 Million
NEW YORK, June 30, 2022 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced that it has acquired an ex-U.S. royalty interest in Gavreto (pralsetinib) from Blueprint Medicines (Nasdaq: BPMC) for up to $340 million, consisting of $175 million upfront and up to $165 million in potential sales-based milestones.
- NEW YORK, June 30, 2022 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced that it has acquired an ex-U.S. royalty interest in Gavreto (pralsetinib) from Blueprint Medicines (Nasdaq: BPMC) for up to $340 million, consisting of $175 million upfront and up to $165 million in potential sales-based milestones.
- "We are thrilled to establish this partnership with Royalty Pharma, a leader in funding innovation, said Kate Haviland, Chief Executive Officer of Blueprint Medicines.
- Royalty Pharma is known to invest in transformative medicines, and their investment in Gavreto reinforces our confidence in its future.
- Royalty Pharma is purchasing the ex-U.S. royalty payable by Roche through its full term, which is estimated to be through 2036 to 2040.