Portfolio product information

Click here to download our Supplemental Financial Information in Excel

Note: Portfolio Receipts lag product performance by one quarter and gross receipts can therefore be estimated by applying the royalty rate as noted in the Portfolio Royalty Terms tab to the preceding quarter’s marketer-announced net revenues on a product-by-product basis. Portfolio Receipts are net of legacy non-controlling interests. Product sales are shown for the full year. In instances where royalties were acquired during the year and Royalty Pharma did not have economic rights to full-year sales, product sales shown are greater than royalty-bearing sales.

20202021202220232024
Cystic fibrosis franchise
Product Sales USD $m
6,2027,5738,9309,86911,020
 
Portfolio Receipts USD $m
454582689771857
Trelegy
Product Sales USD $m
--2,1422,7393,456
 
Portfolio Receipts USD $m
--90203284
Tysabri
Product Sales USD $m
1,9452,0632,0311,877n/a
 
Portfolio Receipts USD $m
285304305279262
Imbruvica(1)
Product Sales USD $m
6,6126,9435,8204,8794,466
 
Portfolio Receipts USD $m
265291258210191
Evrysdi(2)
Product Sales USD $m
61 657 1,169 1,5801,853
 
Portfolio Receipts USD $m
0 16 41 66 174
Xtandi(2)
Product Sales USD $m
4,169 4,7974,8075,0375,906
 
Portfolio Receipts USD $m
121 130 154 146 169
Promacta
Product Sales USD $m
1,7382,016 2,088 2,269 2,216
 
Portfolio Receipts USD $m
118 143 150 161 158
Tremfya
Product Sales USD $m
-2,127 2,668 3,147 3,670
 
Portfolio Receipts USD $m
-36 97 116 140
Cabometyx/Cometriq(3)
Product Sales USD $m
-1,496 1,873 2,266n/a
 
Portfolio Receipts USD $m
-34 55 66 73
Spinraza
Product Sales USD $m
---1,741 n/a
 
Portfolio Receipts USD $m
---4545
Trodelvy
Product Sales USD $m
137 380 680 1,063 n/a
 
Portfolio Receipts USD $m
2 1120 3343
Erleada
Product Sales USD $m
760 1,291 1,881 2,387 2,999
 
Portfolio Receipts USD $m
6 1218 27 39
Orladeyo(4)
Product Sales USD $m
0123 252 325n/a
 
Portfolio Receipts USD $m
-7 22 29 39
Nurtec ODT/Zavzpret(5)
Product Sales USD $m
64 463 725 928 1,263
 
Portfolio Receipts USD $m
17 15 18 26
  1. Sales for Imbruvica include US revenues reported by AbbVie and ex-U.S. revenues reported by Johnson & Johnson.
  2. Sales for Xtandi and Evrysdi reported in foreign currency by the respective marketer are translated to USD at the average exchange rate for each quarter.
  3. Sales for Cabometyx/Cometriq include revenues reported by Exelixis in USD and revenues reported by Ipsen in Euro, which is translated to USD at the average exchange rate for each quarter. For 2023, sales also include revenues reported by Takeda in Japanese yen which are translated to USD at the average exchange rate for each quarter.
  4. Reflects revenues reported for Orladeyo except for Q4 2020, which are based on internal estimates.
  5. Reflects revenues reported for Nurtec ODT except for Q3 2022, which are based on internal estimates. Zavzpret sales are not disclosed by Pfizer.
Selected Approved ProductsAcquisition Year(s)Estimated Royalty
Duration(1)		Royalty Rates(2)2024 % Attributable
to Royalty Pharma(3)
Cystic fibrosis franchise(4)2014, 20202039-2041Blended royalty of slightly over 9% for Trikafta; See footnote (4)86%
Trelegy(5)20222029-2030Tiered royalty of 6.5% on first $750 million, up to 10% on sales >$2.25 billion 100%
Tysabri2017PerpetualTiered payments of 18% on first $2 billion and 25% on sales >$2 billion82%
Imbruvica20132027-2032Downward tiered mid-single digit royalty82%
Evrysdi(6)2020, 20232035-2036Tiered royalty of 7.2% on first $500 million, up to 14.5% on sales >$2 billion100%
Xtandi20162027-2028Slightly less than 4% royalty82%
Promacta20192025-2028Upward tiered 4.7% to 9.4% royalty82%
Tremfya20212031-2032Upward tiered mid-single digit royalty100%
Cabometyx/Cometriq(7)20212026-20293% royalty100%
Spinraza(8)20232030-2035Upward tiered 2.8% to 3.8% royalty, increasing to 5% to 6.8% in 2028100%
Trodelvy2018PerpetualTiered royalty of 4.15% on first $2 billion, down to 1.75% on sales >$6 billion82%
Erleada2019, 20232032Low-single digit royalty87%
Orladeyo(9)2020, 20212036-2039Tiered royalty of 9.5% on first $350 million and 4.5% on sales up to $550 million 100%
Nurtec ODT/Zavzpret2018, 20202034-2036Tiered royalty of ~2.5% on first $1.5 billion and ~1.9% on sales >$1.5 billion87%
Selected Development-Stage
Product Candidates		Acquisition Year(s)Estimated Royalty
Duration(1)		Royalty Rates(2)% Attributable
to Royalty Pharma
Aficamten20222039-2040Tiered royalty of 4.5% on first $1 billion, down to 3.5% on sales >$1 billion 100%
  1. Durations shown represent our estimates as of December 31, 2024, of when a royalty will substantially end, which may vary by geography and may depend on clinical trial results, regulatory approvals (including the timing of such approvals), contractual terms, commercial developments, estimates of regulatory exclusivity and patent expiration dates (which may include estimated patent term extensions) or other factors. There can be no assurances that our royalties will expire when estimated.
  2. The royalties in our portfolio are subject to the underlying contractual agreements from which they arise and may be subject to reductions or other adjustments in accordance with the terms of such agreements. Royalty rates apply to annual worldwide net sales unless otherwise stated.
  3. Ownership percentages for cystic fibrosis franchise, Erleada and Nurtec ODT/Zavzpret represent blended percentages across multiple royalty interests based on 2024 Royalty Receipts.
  4. Royalty is perpetual. We estimate royalty duration of 2039-2041 due to expected Alyftrek patent expiration and potential generic entry thereafter leading to sales decline. We estimate expected Trikafta patent expiration in 2037 and potential generic entry thereafter leading to sales decline. For combination therapies, sales are allocated equally to each of the active pharmaceutical ingredients, with tiered royalties ranging from single digit to subteen percentages on sales of ivacaftor, lumacaftor and tezacaftor, and mid-single digit percentages on sales of elexacaftor. We believe that deuterated ivacaftor (deutivacaftor) is the same as ivacaftor and is therefore royalty-bearing, which would result in a blended royalty of ~8% for Alyftrek. Vertex has made public statements that it believes deuterated ivacaftor (deutivacaftor) is not royalty-bearing, which would result in a blended royalty of ~4% for Alyftrek.
  5. We will pay Theravance Biopharma, Inc. 85% of the royalties in respect of ex-U.S. sales after June 30, 2029 and 85% of the royalties in respect of U.S. sales after December 31, 2030. Royalties are tiered based on sales at 6.5% up to $750 million, 8% between $750 million and $1.25 billion, 9% between $1.25 billion and $2.25 billion, and 10% over $2.25 billion.
  6. Royalties are tiered based on sales at 7.2% up to $500 million, 10% between $500 million and $1 billion, 12.7% between $1 billion and $2 billion, and 14.5% over $2 billion. Our royalty rates are expected to be reduced by 8% in the early 2030s. Royalty entitlement does not reflect PTC exercising the option to sell its remaining 9.5% of the Evrysdi royalty.
  7. We are entitled to royalties on U.S. sales of cabozantinib products through September 2026 and non-U.S. markets through the full term of the royalty.
  8. Our royalty interest in Spinraza will revert to Ionis after we receive aggregate Spinraza royalties equal to $475 million or $550 million, depending on the timing and occurrence of certain events. We are entitled to 25% of Ionis’ Spinraza royalty payments of 11% to 15% on sales up to $1.5 billion through 2027, increasing to 45% of royalty payments on sales up to $1.5 billion in 2028.
  9. Royalty is perpetual. Years shown represent estimated U.S. patent expiration for Orladeyo and potential generic entry thereafter leading to sales decline. We are also entitled to a tiered percentage of sublicense revenue for Orladeyo in certain territories.
Visible Alpha Marketer Consensus Estimates - Selected Approved Products(1)(2)
Product Sales USD $m 2025202620272028
- Trikafta (Vertex)(3) 10,1019,573 9,121 8,681
- Alyftrek (Vertex)(3) 1,219 2,953 4,394 5,695
- Other (Vertex) 627 499 390 314
Trelegy (GSK)3,6954,0013,8243,527
Tysabri (Biogen)1,3761,1951,041921
Imbruvica (AbbVie, Johnson & Johnson)3,7303,1732,7952,443
Evrysdi (Roche)2,0272,2202,3602,482
Xtandi (Astellas)5,6565,6214,1842,842
Promacta (Novartis)1,753960722595
Tremfya (Johnson & Johnson)4,2835,0365,660 6,247
Cabometyx/Cometriq (Exelixis, Ipsen, Takeda)(4)2,8243,063913969
Spinraza (Biogen)1,555 1,4891,4461,398
Trodelvy (Gilead)1,534 1,806 2,076 2,364
Erleada (Johnson & Johnson)3,533 4,058 4,399 4,537
Orladeyo (BioCryst)533 619 700 777
Nurtec ODT/Zavzpret (Pfizer)(5)1,546 1,838 2,109 2,360
Visible Alpha Marketer Consensus Estimates - Selected Development-Stage Product Candidates(1)(2)(6)
Product Sales USD $m 2025202620272028
Aficamten (Cytokinetics) 402576111,135
  1. Represents worldwide consensus sales estimates based on Visible Alpha for marketers as of February 10, 2025 except for: (i) Imbruvica is comprised of AbbVie U.S. consensus sales estimates and Johnson & Johnson ex-U.S. consensus sales estimates, (ii) Cabometyx/Cometriq is comprised of Exelixis consensus sales estimates for the U.S., Japan and Rest of World, and (iii) Crysvita is based on Kyowa Kirin EU consensus sales estimates.
  2. For marketers where consensus sales estimates are not reported in U.S. dollars, we converted the estimates to U.S. dollars based on the applicable spot foreign exchange rates as of February 10, 2025 based on FactSet.
  3. For 2025-2028, 16 brokers forecast Alyftrek and 22 brokers forecast Trikafta.
  4. 2027 and 2028 Cabometyx/Cometriq consensus sales estimates exclude U.S. revenue based on our current expectation of our royalty on U.S. sales expiring in 2026.
  5. Reflects worldwide consensus sales estimates for Nurtec ODT only. Zavzpret sales are not included in these consensus sales estimates.
  6. Consensus sales estimates for selected development-stage product are presented on a risk-adjusted basis.

Stay up to date

Subscribe to Royalty Pharma news and alerts

Subscribe