Press release
Royalty Pharma Reports Third Quarter 2021 Results
Net cash provided from operating activities (GAAP) of $470 million; Adjusted Cash Receipts(1) (non-GAAP) of $587 million and Adjusted Cash Flow(2) (non-GAAP)
About this update from Royalty Pharma Plc
[{"type":"text","content":"Net cash provided from operating activities (GAAP) of $470 million; Adjusted Cash Receipts(1) (non-GAAP) of $587 million and Adjusted Cash Flow(2) (non-GAAP) of $441 millionAnnounced transactions of up to $2.8 billion in 2021, including $2.1 billion in upfront paymentsRaises 2021 guidance: Adjusted Cash Receipts(1) expected to be $2,110 to $2,130 million NEW YORK, Nov. 10, 2021 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today reported financial results for the third quarter of 2021 and raised full-year 2021 guidance for Adjusted Cash Receipts(1) (a non-GAAP financial measure). “We are delighted to report another quarter of impressive growth,” said Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer. “Our business continues to exhibit tremendous momentum as evidenced by our existing portfolio performance, the substantial level of capital deployed this year and our robust deal pipeline. Furthermore, our development-stage royalty portfolio demonstrated encouraging progress, led by positive Phase 3 results for PT027 in asthma and the designation by the FDA of gantenerumab as a Breakthrough Therapy for Alzheimer’s disease. Looking ahead, the rapid pace of innovation in biopharma continues to drive enormous capital needs; given our unique leadership role in royalty funding, we are well positioned to deliver attractive, compounding growth in the coming years”. Third quarter 2021 GAAP financial results demonstrate robust operating cash flow from royalty portfolio Net cash provided by operating activities decreased to $470 million; net cash used in investing activities decreased to $845 million; net cash provided by financing activities increased to $1,034 million.Total income and other revenues increased 9% to $586 million. Third quarter 2021 non-GAAP financial results show strong double-digit growth Adjusted Cash Receipts(1) increased 24% to $587 million, driven by strong portfolio performance, new royalty acquisitions and a one-time payment related to Soliqua.Adjusted Cash Flow(2) grew 12% to $441 million, the sixth consecutive quarter of double-digit growth(9). Positive developments across royalty portfolio AstraZeneca announced Phase 3 results for PT027, a potential first-in-class combination treatment for asthma.Roche announced gantenerumab was granted Breakthrough Therapy Designation by the FDA for Alz...