Royalty Pharma draws on revolver for Evrysdi royalties purchase

By Sara Rosenberg

New York, Oct. 19 – Royalty Pharma Holdings Ltd. borrowed $350 million under its existing five-year unsecured revolving credit facility to fund a portion of the acquisition of additional royalties on Roche’s Evrysdi from PTC Therapeutics Inc., according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The additional royalties are being purchased for $1 billion.

Other funds for the transaction will come from existing cash on the balance sheet.

Royalty Pharma is a New York-based buyer of biopharmaceutical royalties. Evrysdi is an orally administered survival motor neuron-2 splicing modifier for the treatment of spinal muscular atrophy.

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