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Mar 31
Royalty Pharma Q1 2025 Earnings Report
Royalty Pharma reported strong financial results for the first quarter of 2025, driven by double-digit growth in Portfolio Receipts and strategic capital allocation.
Key Takeaways
Royalty Pharma delivered a robust first quarter in 2025, with Portfolio Receipts growing 17% to $839 million and Royalty Receipts increasing 12% to $788 million. The company repurchased $723 million in Class A ordinary shares and raised its full-year 2025 guidance for Portfolio Receipts.
Portfolio Receipts grew 17% to $839 million, demonstrating strong financial performance.
Royalty Receipts increased 12% to $788 million, primarily due to strong performance from the cystic fibrosis franchise, Trelegy, and Xtandi.
The company repurchased 23 million Class A ordinary shares for $723 million under its $3 billion authorization, reflecting a dynamic capital allocation strategy.
Royalty Pharma raised its full-year 2025 guidance for Portfolio Receipts to between $2,975 million and $3,125 million.
Royalty Pharma
Royalty Pharma
Royalty Pharma Revenue by Segment
Revenue by Segment
Cystic Fibrosis Franchise Revenue
CapyFin.comTrelegy Revenue
CapyFin.comTysabri Revenue
CapyFin.comEvrysdi Revenue
CapyFin.comXtandi Revenue
CapyFin.comImbruvica Revenue
CapyFin.comPromacta Revenue
CapyFin.comTremfya Revenue
CapyFin.comCabometyx/Cometriq Revenue
CapyFin.comSpinraza Revenue
CapyFin.comTrodelvy Revenue
CapyFin.comErleada Revenue
CapyFin.comOther Products Revenue
CapyFin.com Forward Guidance
Royalty Pharma raised its full-year 2025 guidance for Portfolio Receipts, expecting growth of 6% to 12%, and anticipates updating guidance for operating costs and interest paid after the internalization transaction closes.
Positive Outlook
- Raised full year 2025 Portfolio Receipts guidance to $2,975 million to $3,125 million.
- Expected Portfolio Receipts growth of 6% to 12% year-over-year.
- Negligible estimated foreign exchange impact to Portfolio Receipts.
- Anticipated total interest paid of approximately $260 million in 2025.
- Guidance based on the most up-to-date view of prospects, excluding unforeseen adverse events or changes in foreign exchange rates.
Challenges Ahead
- Guidance for payments for operating and professional costs does not reflect the impact of the internalization transaction.
- Guidance for interest paid does not reflect the impact of the internalization transaction.
- Guidance will be updated following the closing of the internalization transaction, expected in Q2 2025.
- Assumes no additional debt financing in 2025, including no drawdown on the revolving credit facility.
- Excludes contributions from transactions announced subsequent to the press release date.