Press release
Royalty Pharma Reports Q4 and Full Year 2021 Results
Net cash provided by operating activities (GAAP) of $490 million; Adjusted Cash Receipts(1) (non-GAAP) of $543 million and Adjusted Cash Flow(2) (non-GAAP) of
About this update from Royalty Pharma Plc
[{"type":"text","content":"Net cash provided by operating activities (GAAP) of $490 million; Adjusted Cash Receipts(1) (non-GAAP) of $543 million and Adjusted Cash Flow(2) (non-GAAP) of $488 millionAnnounced transactions of up to $3.0 billion in 2021, including $2.3 billion in upfront paymentsFull Year 2022 guidance: Adjusted Cash Receipts(1) (non-GAAP) of $2,225 to $2,300 million NEW YORK, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today reported financial results for the fourth quarter and full year of 2021 and introduced 2022 Adjusted Cash Receipts(1) (a non-GAAP financial measure) guidance. “Royalty Pharma had an outstanding year in 2021, building off the strong momentum we achieved in 2020,” said Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer. “We delivered impressive growth and we announced $3.0 billion in transactions, which further diversify our portfolio and enhance our long-term outlook. Royalty Pharma is uniquely positioned as the trusted partner of choice in delivering creative solutions to fund the acceleration in life sciences innovation, and we are tracking well ahead of our capital deployment targets. These strong fundamental tailwinds underpin our confidence in delivering attractive, compounding growth in the years ahead.” Fourth quarter and full year 2021 GAAP financial results reflect expansion of development-stage portfolio Cash provided by operating activities decreased 13% in the fourth quarter and 1% for the full year; cash used in investing activities decreased to $552 million in the fourth quarter and $1,870 million for the full year; cash (used in)/provided by financing activities of $(198) million in the fourth quarter; $385 million for the full year.Total income and other revenues of $576 million in the fourth quarter and $2,289 million for the full year. Fourth quarter and full year 2021 non-GAAP financial results show strong double-digit growth Adjusted Cash Receipts(1) grew 12% to $543 million in the fourth quarter and 18% to $2,129 million for the full year, driven primarily by strong portfolio performance and supplemented with new royalty acquisitions.Adjusted Cash Flow(2) grew 15% to $488 million in the fourth quarter and 19% to $1,767 million for the full year. Multiple positive clinical and regulatory updates in the fourth quarter Biohaven reported positive Phase 3 results...