Navigation Links
Royalty Pharma Acquires Royalty Interest in RotaTeq(R) from The Children's Hospital Foundation for $182 Million
Date:4/24/2008

NEW YORK, April 24 /PRNewswire/ -- The Children's Hospital Foundation, the parent company of The Children's Hospital of Philadelphia(R), and Royalty Pharma announced today that the Foundation has sold its worldwide royalty interest in respect of sales of RotaTeq(R) from and after October 1, 2007, to Royalty Pharma for $182 million in cash.

(Logo: http://www.newscom.com/cgi-bin/prnh/20061026/RPLOGO )

"With the addition of this royalty on RotaTeq(R), we further our strategy of building a highly diversified portfolio of royalty interests on leading biopharmaceutical products. We are pleased to add the first vaccine to complement our royalties on products that treat a wide range of diseases, including cancer, rheumatoid arthritis and other autoimmune disorders, AIDS/HIV and neuropathic pain," said Pablo Legorreta, Chief Executive Officer of Royalty Pharma. "More important, we are partnering with the world's best research hospitals, universities and biopharmaceutical companies, and providing them with critical sources of financing that they can employ in further research and development endeavors. This will result, hopefully, in continued innovation and therapeutic alternatives for patients."

"CHOP will use this money in the continual pursuit of advancing science to benefit children," said Steven M. Altschuler, MD, President and Chief Executive Officer, The Children's Hospital of Philadelphia(R).

RotaTeq(R) is a live, oral pentavalent vaccine indicated for the prevention of rotavirus gastroenteritis. RotaTeq(R) was approved by the United States Food and Drug Administration in February 2006, has been approved in 70 other countries and has launched in 42 of these countries. It is marketed by Merck & Co. Inc. RotaTeq(R) was created as a result of research jointly performed by The Children's Hospital of Philadelphia(R) and The Wistar Institute, Philadelphia, PA.

Morgan Stanley is acting as structuring advisor and Ropes & Gray LLP is acting as the legal advisor to The Children's Hospital Foundation for this sale. Goodwin Procter LLP is acting as legal advisor and Baker Botts L.L.P. is acting as intellectual property counsel to Royalty Pharma for this sale.

About The Children's Hospital of Philadelphia(R)

The Children's Hospital of Philadelphia(R) was founded in 1855 as the nation's first pediatric hospital. Through its long-standing commitment to providing exceptional patient care, training new generations of pediatric healthcare professionals and pioneering major research initiatives, Children's Hospital has fostered many discoveries that have benefited children worldwide. Its pediatric research program is among the largest in the country, ranking third in National Institutes of Health funding. In addition, its unique family-centered care and public service programs have brought the 430-bed hospital recognition as a leading advocate for children and adolescents.

For more information, go to: http://www.chop.edu.

About Royalty Pharma

Royalty Pharma is the industry leader in acquiring revenue-producing intellectual property -- principally royalty interests in marketed and late stage biopharmaceutical products with approximately $5 billion in assets. Royalty Pharma currently owns a diversified portfolio of royalty interests in several high-quality blockbuster biopharmaceutical products, including Abbott's Humira(R), J&J/Centocor's Remicade(R), Pfizer's Lyrica(R), Amgen's Neupogen(R) and Neulasta(R), Genentech's Rituxan(R), Gilead's Emtriva(R), Truvada(R) and Atripla(R), and Celgene's Thalomid(R).

The company has an eleven year history of providing value to holders of royalty interests, including its $700 million purchase of the Lyrica(R) royalty from Northwestern University, its $650 million purchase of the Remicade(R) royalty from New York University, its $700 million purchase of the Humira(R) royalty from AstraZeneca plc following its acquisition of Cambridge Antibody Technology, its joint $525 million acquisition with Gilead Sciences of Emory University's emtricitabine royalty interest and its acquisitions of approximately 80% of Memorial Sloan Kettering's U.S. and international royalty interests in Neupogen(R) and Neulasta(R) for over $400 million.
For more information, go to http://www.royaltypharma.com.

Contacts

The Children's Hospital Foundation

Peggy Flynn,

Director of Media Relations

267-426-6080

Royalty Pharma

Pablo Legorreta, Chief Executive Officer

Susannah Gray, Executive Vice President and Chief Financial Officer

Alexander Kwit, Executive Vice President and General Counsel

Mike Herman, Senior Vice President, Investments

212-883-0200


'/>"/>
SOURCE Royalty Pharma
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)
2. Drug Royalty Corporation Changes Its Name to DRI Capital
3. Cowen Group, Inc. and Cowen Healthcare Royalty Partners Announce Expansion of Royalty Investment Team
4. Cowen Group, Inc. and Cowen Healthcare Royalty Partners Announce Expansion of Royalty Investment Team
5. Antibody Engineering Company F-Star Buys Back Royalty Obligations
6. CV Therapeutics Announces $185 Million Transaction with TPG-Axon Capital for Half of Royalty for Lexiscan(TM) (regadenoson) Injection
7. Hearing Scheduled in the Delaware Court of Chancery for August 27, 2007 to Establish the Valid Approval and Consummation of the Merger Between PharmAthene, Inc. and Healthcare Acquisition Corp.
8. Pharmatek Adds Cytotoxic and High-Potent Drug Development Capabilities to San Diego Laboratory
9. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
10. Skystar Bio-Pharmaceutical Announces Second Quarter 2007 Results
11. Proceedings to Affirm Merger Between PharmAthene and Healthcare Acquisition Corp Initiated in Delaware Chancery Court
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/10/2016)... (PRWEB) , ... February 10, 2016 , ... ... Testing (PROMPT), a research registry built on the secure online PatientCrossroads platform, has ... More than 1,600 participants have joined the PROMPT study, which seeks to advance ...
(Date:2/9/2016)... ... February 09, 2016 , ... With a presidential election in November and the ... will bring together over 500 top healthcare leaders for a night and day of ... organized by MBA students of the University of Pennsylvania’s Wharton School, will be held ...
(Date:2/9/2016)... Prussia, PA (PRWEB) , ... February 09, 2016 , ... ... Development, Europe. Based in Paris, he will focus on acquiring new accounts and ... being met. , “Fred brings to our European clients more than ...
(Date:2/9/2016)... -- This market research report on the global microbiology ... the market in terms of revenue (USD Million). The ... manufacture of microbiology culture media and related products. The ... providing the overall information of various market segments included ... provides the overall information and data analysis of the ...
Breaking Biology Technology:
(Date:1/28/2016)... SYNA ), a leading developer of human interface solutions, today ... --> --> Net revenue ... to the comparable quarter last year to $470.5 million. Net income ... $0.93 per diluted share. --> ... 2016 grew 9 percent over the prior year period to $60.3 ...
(Date:1/25/2016)... Pa. , Jan. 25, 2016   Unisys Corporation ... system at John F. Kennedy (JFK) International Airport, New ... Protection (CBP) identify imposters attempting to enter the ... not belong to them. pilot testing of the ... initially at three terminals at JFK during January 2016. --> ...
(Date:1/22/2016)... 2016 http://www.researchandmarkets.com/research/4lmf2s/global_behavioral ... the  "Global Behavioral Biometric Market 2016-2020" ... http://www.researchandmarkets.com/research/4lmf2s/global_behavioral ) has announced the ... Market 2016-2020"  report to their offering. ... http://www.researchandmarkets.com/research/4lmf2s/global_behavioral ) has announced the addition ...
Breaking Biology News(10 mins):