Syndax and Royalty Pharma finalize $350 million deal
Syndax Pharmaceuticals (Nasdaq: SNDX) has entered into a $350 million royalty funding agreement with Royalty Pharma (Nasdaq: RPRX).
The deal is focused on US net sales of Niktimvo (axatilimab-csfr), an approved treatment for chronic graft-versus-host disease. The agreement includes a 13.8% royalty on US sales, which will end once Royalty Pharma receives a 2.35 times return on its investment.
The partnership comes amid strong growth for Royalty Pharma, which recently reported a 12% rise in portfolio receipts in the second quarter, beating its high-single-digit forecast. The firm has committed $2 billion in royalty acquisitions and recently increased its 2024 guidance, projecting portfolio receipts to exceed $2.7 billion.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
More on this story...
Today's issue
Company Spotlight
More Features in Pharmaceutical
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze