Royalty Pharma Q2 2022 Earnings Report
Key Takeaways
Royalty Pharma reported a decrease in total income and other revenues by 3% to $536 million. However, Adjusted Cash Receipts increased by 10% to $524 million, driven by the cystic fibrosis franchise, Xtandi, and Tremfya. The company also announced transactions of up to $2.5 billion year-to-date and raised full-year 2022 guidance for Adjusted Cash Receipts to $2,275 to $2,350 million.
Net cash provided by operating activities increased 8% to $575 million.
Adjusted Cash Receipts increased 10% to $524 million, driven by a double-digit increase in royalties from the cystic fibrosis franchise, Xtandi and the addition of Tremfya.
Adjusted EBITDA grew 10% to $480 million, driven by strong growth in Adjusted Cash Receipts.
Adjusted Cash Flow increased 12% to $482 million.
Royalty Pharma
Royalty Pharma
Forward Guidance
Royalty Pharma anticipates full-year 2022 Adjusted Cash Receipts to be between $2,275 million and $2,350 million (+7% to 10% year/year), excluding transactions announced subsequent to the date of this release.
Challenges Ahead
- Guidance reflects an estimated foreign exchange impact of approximately -3% to -4% (-$65 million to -$85 million) for full-year 2022 year/year Adjusted Cash Receipts growth, assuming current exchange rates prevail for the balance of 2022.