Royalty Pharma acquires reaming royalty interest in Evrysdi for $240M upfront

Royalty Pharma (RPRX) announced that it has acquired the final portion of PTC Therapeutics’ remaining royalty on Roche’s (RHHBY) Evrysdi for $240M upfront and up to $60M in sales-based milestones. Evrysdi, marketed by Roche, is an orally administered survival motor neuron-2 splicing modifier for the treatment of spinal muscular atrophy. In 2024, Evrysdi generated sales of approximately $1.9B, representing 18% year-over-year growth at constant exchange rates, and is projected to reach $2.9B of sales by 2030 based on analyst consensus. Following the transaction, Royalty Pharma will own 100% of the tiered 8% to 16% royalty paid by Roche on worldwide net sales of Evrysdi. Royalty Pharma will be entitled to royalties of 8% on sales up to $500M, 11% on sales between $500M and $1B, 14% on sales between $1B and $2B, and 16% on sales over $2B. Royalty Pharma will receive the increased royalty starting in the first quarter of 2026, based on Evrysdi product sales in the fourth quarter of 2025.