FDA approves Voranigo; Royalty Pharma pays $905M milestone, expects >$150M/yr royalties

Royalty Pharma plc

FDA approved Voranigo (vorasidenib) for IDH1/2 mutant diffuse glioma on August 6, 2024.
Royalty Pharma pays $905M to Agios upon approval under May 2024 royalty agreement.
Royalty Pharma receives 15% royalty on U.S. net sales up to $1B, 12% above $1B.
Peak annual sales projected >$1B; annual royalties >$150M through 2038.

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