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Sep 30, 2023
Royalty Pharma Q3 2023 Earnings Report
Royalty Pharma reported solid Q3 2023 results, driven by growth in key royalties and strategic acquisitions.
Key Takeaways
Royalty Pharma reported a 7% increase in Adjusted Cash Receipts to $637 million, driven by strong performances of the CF franchise and Trelegy, and the addition of Spinraza. The company also announced transactions of up to $3.8 billion year-to-date, including $2.1 billion in upfront payments and raised its 2023 guidance for Adjusted Cash Receipts to $2,950 to $3,000 million.
Adjusted Cash Receipts increased by 7% to $637 million, driven by strong performance of the CF franchise and Trelegy, and the addition of Spinraza.
Net cash provided by operating activities grew 6% to $574 million.
The company announced transactions of up to $3.8 billion year-to-date, including $2.1 billion in upfront payments.
Royalty Pharma is raising 2023 guidance: Adjusted Cash Receipts expected to be $2,950 to $3,000 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 provided its guidance for full-year 2023, excluding transactions announced after the date of this release.
Positive Outlook
- Adjusted Cash Receipts(1) (non-GAAP) $2,950 million to $3,000 million
- Payments for operating and professional costs 8% to 8.5% of Adjusted Cash Receipts(1)
- Interest paid $170 million
- Development-stage funding payments - upfront and milestone $50 million
- This Adjusted Cash Receipts(1) guidance represents underlying growth of 9%(4) to 11%(4) prior to the Zavzpret milestone payment in the first quarter of 2023 and the payments related to the Biohaven Preferred Shares received in 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income