Royalty Pharma PLC (RPRX) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
MorphoSys AG is set to be acquired by Novartis at €68 per share, backed by Royalty Pharma’s strategic financial support of up to $2.025 billion from their 2021 partnership. This deal facilitated MorphoSys’s acquisition of Constellation Pharmaceuticals and entitles Royalty Pharma to royalties on multiple therapies in various development stages, including potential blockbusters for myelofibrosis and Alzheimer’s disease. Royalty Pharma also benefits from a significant equity stake in MorphoSys and will receive repayment for Development Funding Bonds starting in late 2024, reflecting a substantial return on investment.
For further insights into RPRX stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.