Press release
Royalty Pharma Reports Second Quarter 2022 Results
Strong growth in net cash provided by operating activities and Adjusted Cash Receipts(1)Announced transactions of up to $2.5 billion year-to-date, including
About this update from Royalty Pharma Plc
[{"type":"text","content":"Strong growth in net cash provided by operating activities and Adjusted Cash Receipts(1)Announced transactions of up to $2.5 billion year-to-date, including $1.7 billion in upfront paymentsIncreased 2022 guidance: Adjusted Cash Receipts(1) expected to be $2,275 to $2,350 million NEW YORK, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today reported financial results for the second quarter of 2022 and raised full-year 2022 guidance for Adjusted Cash Receipts(1) (a non-GAAP financial measure). “We continue to make excellent progress against our strategic and financial objectives,” said Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer. “Our diverse portfolio of royalties delivered strong growth in the second quarter. In addition, we further cemented our leading position in the royalty funding market with $2.5 billion in announced transactions year-to-date, including the addition of Trelegy, a rapidly growing blockbuster therapy. Looking forward, the tailwinds behind our business remain strong, fueled by the significant capital requirements of the biopharma industry and our ability to create “win-win” funding solutions. By executing against our mission to accelerate innovation and transform patient lives, we are confident in the power of our unique business model to drive long-term, compounding growth.” Second quarter 2022 GAAP financial results demonstrate robust operating cash flow growth Net cash provided by operating activities increased 8% to $575 million; Net cash used in investing activities was $30 million; Net cash used in financing activities increased to $228 million.Total income and other revenues decreased 3% to $536 million. Second quarter 2022 non-GAAP financial results show strong performance Adjusted Cash Receipts(1) increased 10% to $524 million, driven by a double-digit increase in royalties from the cystic fibrosis franchise, Xtandi and the addition of Tremfya, which more than offset royalty expirations.Adjusted EBITDA(4) grew 10% to $480 million, driven by strong growth in Adjusted Cash Receipts(1).Adjusted Cash Flow(2) increased 12% to $482 million. Significant deal activity expands portfolio with two attractive, approved therapies Acquired royalties on GSK’s Trelegy, the leading triple combination therapy in COPD and asthma, and ex-U.S. and ex-Greater China royalties ...