Royalty Pharma
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Royalty Pharma (RPRX) investor relations material

Royalty Pharma 44th Annual J.P. Morgan Healthcare Conference summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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44th Annual J.P. Morgan Healthcare Conference summary13 Jan, 2026

Key business highlights and strategy

  • Achieved 14–16% growth in portfolio receipts for 2025, with strong returns on invested capital (15.7%) and equity (22.9%).

  • Internalized external management, reducing costs and improving governance.

  • Deployed $2.6B in value-creating royalty transactions, including eight new royalties and a landmark deal with Revolution Medicines.

  • Returned $1.2B to shareholders via share repurchases and increased dividends.

  • Consistently outperformed analyst expectations in 15 of the last 22 quarters.

Strategic vision and growth objectives

  • Aims to be the leading capital allocator in life sciences, targeting consistent, compounding growth.

  • Focuses on strong execution, rapid industry growth, and an optimized business model.

  • Maintains a dynamic capital allocation framework, balancing royalty investments and share repurchases based on market conditions.

  • Projects significant financial capacity, with $30 billion available for strategic initiatives through 2030.

Financial performance and capital deployment

  • Achieved 2025 portfolio receipts guidance midpoint of $3.225 billion, reflecting ~15% year-over-year growth.

  • Delivered double-digit average annual growth in royalty receipts since IPO, exceeding expectations in 15 of the last 22 quarters.

  • On track to meet or exceed the 5-year capital deployment target of $10–12 billion (2022–2026).

  • Return on Invested Capital averaged 14.8% annually, with Return on Invested Equity at 21.5%.

RP's dev-stage success rate is 90%. How
Synthetic royalties are 5% of biopharma funding. Why
How does RP balance royalty deals vs. buybacks
Ideal synthetic royalty deal characteristics?
China market unique challenges/advantages?
Factors for higher royalty capital deployment?
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Q4 202511 Feb, 2026
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Frequently asked questions

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. The company's royalty acquisition segment engages in the acquisition of royalty streams from pharmaceutical companies. Its funding segment provides equity or loan financing to biotechnology companies developing innovative methods for the treatment of cancer, inflammatory disease, obesity, diabetes, and other metabolic disorders.

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