Royalty Pharma buys royalties on Vertex Pharma drugs for $3.3 billion

(Reuters) – Pharmaceutical investment firm Royalty Pharma said it would buy royalties on Vertex Pharmaceuticals Inc’s cystic fibrosis treatments from Cystic Fibrosis Foundation for $3.3 billion in cash. Vertex’s cystic fibrosis drug, Kalydeco, was approved by the U.S. Food and Drug Administration in January 2012. Vertex co-developed the drug with an affiliate of the Cystic Fibrosis Foundation. The foundation plans to use the proceeds of the deal for the development of new therapies for the disease, Royal Pharma said in a statement on Wednesday. …
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