Royalty Pharma Plc · NASDAQ:RPRX
Royalty Pharma — Q2 2025 Earnings Presentation
25 slides from Royalty Pharma's earnings presentation, Aug 6, 2025
Slide 1: Royalty Pharma
ROYALTY PHARMA
Slide 2: Q2 2025 Financial Results
Royalty Pharma plc Q2 2025 Financial Results August 6, 2025 2
Slide 3: Forward Looking Statements & Non-GAAP Measures
Forward Looking Statements & Non-GAAP Measures This presentation has been prepared by Royalty Pharma plc (the “Company”), is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. The information set forth herein does not purpor
Slide 4: Agenda
Agenda Key Highlights Pablo Legorreta Founder & Chief Executive Officer Portfolio Update Marshall Urist EVP, Head of Research & Investments Financial Results Terrance Coyne EVP, Chief Financial Officer Conclusion Pablo Legorreta Founder & Chief Executive Officer Pablo Legorreta Founder & Chief Execu
Slide 5: Key Highlights - Pablo Legorreta
Key Highlights Pablo Legorreta Founder & Chief Executive Officer 5
Slide 6: Sustained strong business momentum in Q2 2025
Sustained strong business momentum in Q2 2025 1 2 3 4 Financial Capital allocation Portfolio Financial guidance Double-digit growth in Royalty Repurchased 8m shares for Completed acquisition of FY 2025 Portfolio Receipts Receipts (+11%) and Portfolio $277m in Q2 2025 external manager, RP expected to
Slide 7: Delivering double-digit growth on average since IPO
Delivering double-digit growth on average since IPO Royalty Receipts (year/year growth; $ in millions) +15% +12% +8% +13% +11% +12% +15% +12% $788 +14% $732 $729 +11% +10% $705 +9% $672 +6% $651 +11% +16% +9% +12% $616 $637 $593 +7% $605 +14% +10% $581 $584 +35% $537 +11% $545 +12% +11% $500 +4% $53
Slide 8: Portfolio Update - Marshall Urist, MD, PhD
Portfolio Update Marshall Urist, MD, PhD Executive Vice President Head of Research & Investments 8
Slide 9: Up to $2 billion funding partnership with Revolution Medicines
Up to $2 billion funding partnership with Revolution Medicines • Acquired a royalty on Revolution Medicines’ daraxonrasib, a RAS(ON) multi-selective inhibitor for RAS mutant pancreatic and lung cancers Royalty on daraxonrasib(1) and interest payments Up to $1.25bn ($250m upfront) for mid-single di
Slide 10: Flexible deal structure drives "win-win" funding solution
Flexible deal structure drives “win-win” funding solution Daraxonrasib consensus sales projections(2) (Unadjusted sales; $ in millions) • Daraxonrasib royalty structure provides attractive risk/reward $7,311 Additional funding available only on positive Phase 3 data, regulatory $6,806 approvals an
Slide 11: Royalty Pharma sees multi-blockbuster potential for daraxonrasib
Royalty Pharma sees multi-blockbuster potential for daraxonrasib Revolution Medicines would launch with a significant first to market advantage in a cancer where the unmet need is profound Pancreatic cancer(1) Non-small cell lung cancer Additional opportunities Zoldonrasib(3), other RAS- ~56,000 new
Slide 12: Financial Results - Terrance Coyne
Financial Results Terrance Coyne Executive Vice President Chief Financial Officer 12
Slide 13: Efficient model generates substantial cash flow to reinvest
Efficient model generates substantial cash flow to reinvest % Portfolio $ in millions Q2 2025 Receipts Comments Royalty Receipts(1) 672 +11% YoY Recurring cash inflows of our royalty portfolio Milestones & other contractual receipts(1) 56 n/a More variable cash receipts Portfolio Receipts 727 +20% Y
Slide 14: Strong growth driven by base business strength in Q2 2025
Strong growth driven by base business strength in Q2 2025 Q2 2025 Portfolio Receipts ($ in millions) 0 +20% 0 +11% 56 3 (4) 70 727 672 608 605 Drivers: + Trelegy + Evrysdi + Tremfya + Voranigo Headwinds: - Tysabri Q2 2024 Milestones and Q2 2024 Royalty expiries(1) Base business(2) Q2 2025 Milestones
Slide 15: Maintaining financial flexibility while returning capital
Maintaining financial flexibility while returning capital Substantial share repurchases in H1 2025 • $632m of cash and cash equivalents as of June Return of capital: ~$1.26bn 30, 2025 Monetized MorphoSys Development Funding Bonds in January 2025 for $511m of cash Dividends Capital $259m Deployment
Slide 16: Full year 2025 guidance
Full year 2025 guidance(1,2) May 8, 2025 August 6, 2025 Comments • Strong portfolio performance Portfolio Receipts(3) $2,975m - $3,125m $3,050m - $3,150m • Milestones and other contractual receipts expected excluding transactions announced (6%-12% growth yr/yr) (9%-12% growth yr/yr) to be ~$110m in
Slide 17: Conclusion - Pablo Legorreta
Conclusion Pablo Legorreta Founder & Chief Executive Officer 17
Slide 18: Advancing Royalty Pharma's role in the biopharma ecosystem
Advancing Royalty Pharma’s role in the biopharma ecosystem 5th annual Accelerating Bio-Innovation (ABI) conference – June 2025 127 CEOs, founders Gathering of nearly 350 life science leaders organized in collaboration with the Massachusetts Institute of Technology 79 academics/scientists Discussions
Slide 19: Investor Day on September 11, 2025
Investor Day on September 11, 2025 Royalty Pharma senior executives will provide an update on the Event: Investor Day Company’s plans to drive Date: Thursday, September 11, 2025 shareholder value creation Where: New York City through leveraging its unique Time: 8:30 a.m. ET business model and capabi
Slide 20: Footnotes
Footnotes 1) To aid in comparability, quarter-over-quarter growth in 2020 is calculated based on pro forma 2019 results, which adjusts certain cash flow line items as if Royalty Pharma’s Reorganization Transactions (as described in the Company’s final prospectus filed with the SEC on June 17, 2020 (
Slide 21: Appendix
Appendix ROYALTY PHARMA 21
Slide 22: On track to meet or exceed 5-year capital deployment target
On track to meet or exceed 5-year capital deployment target Investing in approved and development-stage royalties 5-year capital deployment target(3,4) (Transactions announced since January 1, 2022) (Transaction value; since January 1, 2022) 15 Approved ~$12.4bn Transaction value ($ in bn) $10-12bn
Slide 23: Important events expected over the next 12-18 months
Important events expected over the next 12-18 months 2025 2026 Select recent and expected upcoming events Q2 Q3 Q4 trontinemab Phase 1/2b results for Alzheimer’s disease(1) trontinemab Phase 3 “Go” achieved (TRONTIER 1 and 2)(2) Trodelvy, Keytruda Phase 3 results for 1L mTNBC (ASCENT-04)(3) Trodelvy
Slide 24: Potential royalties on ~50 projects in late-stage development
Potential royalties on ~50 projects in late-stage development Phase 2 Phase 3 Registration CK-586 tulmimetostat (CPI-0209) omecamtiv mecarbil pelacarsen olpasiran aficamten Heart failure Blood cancer, solid tumors Heart failure Cardiovascular disease Cardiovascular disease oHCM Initial indication tr
Slide 25: Daraxonrasib royalty and debt facility terms
Daraxonrasib royalty and debt facility terms Royalty terms Tranche 1 Tranche 2 Tranche 3(1) Tranche 4(1) Tranche 5(1) Total Amount $250m $250m Up to $250m Up to $250m Up to $250m $1.25bn Positive data FDA approval in 2L Sales milestone Positive Phase 3 data in Timing Immediate (RASolute 302) pancrea