Royalty Pharma Plc (NASDAQ: RPRX) debut today on the NASDAQ exchange, increasing over 57% after the recent COVID-19 pandemic stalled potential listings. Royalty Pharma purchases biopharmaceutical royalties and helps fund new treatments. The company sold USD 2.18 Billion in stock after its IPO was priced high, being the second largest pharmaceutical listing ever.
Royalty Pharma raised its target of 70 million shares. Multiple biotechnology and pharmaceutical companies are filing to go public. The rise in demand on the company’s debut may note that new listings may be unaffected by the recent downtrends in the market. “Royalty Pharma is the other side of the coin in the biotech space which is drawing substantial interest from IPO investors,” said Jeff Zell, senior research analyst at IPO Boutique. “They have a diversified portfolio of drugs from the most impressive Pharma companies in the world, which generates desired cash-flow.”
Royalty Pharma has been pioneers in the royalty market, collaborating with innovators from academic institutions and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. We have assembled a portfolio of royalties which entitles us to payments based directly on the top-line sales of many of the industry’s leading therapies, including Imbruvica, Januvia, Kalydeco, Trikafta, Truvada, Tysabri and Xtandi.