Royalty Pharma Nears Biopharma Record Take With $2.18bn IPO

Royalty Pharma has years of success behind it and reached new heights with a record-setting initial public offering of $2.18bn on 16 June – followed by its share price soaring during its first day on the public market. That should be a sound foundation for the firm’s plans to be a financing backstop for industry, academic and institutional research in an uncertain business environment still unsettled by the novel coronavirus pandemic.

Founded in 1996, the company began the day on 16 June pricing its IPO at $28 dollars-per-share. The offering included more than 77.68 million shares, increased from an initial plan to offer 70 million. The offering’s underwriters hold an option to purchase an additional 11