Royalty Pharma Q2 Portfolio Receipts $608M (+12% YoY); raises FY 2024 guidance to $2.7-2.775B

Royalty Pharma plc

2024-Q2 EPS reported $0.24 revenue$1,105,245,000

Royalty Receipts grew 11% to $605M, driven by cystic fibrosis franchise, Trelegy (+32%), Tremfya (+34%), and Evrysdi (+91%).
Raised FY 2024 Portfolio Receipts guidance: $2,700M-$2,775M (previous $2,600M-$2,700M), implying 9-12% Royalty Receipts growth.
Capital deployed ~$2B YTD including $905M for Voranigo (approved Aug 6) and $575M expanded Cytokinetics collaboration.
Issued $1.5B senior notes at 5.5% in June; total debt $7.8B at 3.1% avg cost; repurchased 4M shares for $115M YTD.
Trodelvy Phase 3 TROPiCS-04 failed survival endpoint; BioCryst discontinued BCX10013 – potential portfolio headwinds.

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