Royalty Pharma publishes transcript of Q2 2026 financial results call
RPRX•Q2 results call and updated guidance
Royalty Pharma’s Q2 2026 results call drew CEO Pablo Legorreta, EVP Marshall Urist, Chairman of Partnering & Investments Christopher Hite, CFO Terrance Coyne, and analysts from Citi, Morgan Stanley, JPMorgan, TD Cowen, UBS, Evercore, Goldman Sachs, and BofA.
- Raised 2026 guidance to Portfolio Receipts of USD 3.4-3.5 billion; Royalty Receipts growth seen at 7%-10% despite Promacta LOE and US biosimilar Tysabri.
- Q2 Portfolio Receipts rose 6% to USD 773 million; Royalty Receipts increased 14%; Portfolio Cash Flow reached USD 736 million on a roughly 95% margin.
Transaction and balance sheet update
- Agreed to buy a 3.75% worldwide net-sales royalty on AstraZeneca’s cliramitug for up to USD 425 million; Phase 3 ATTR-CM outcomes data expected in 2028.
- CFO flagged interest-paid seasonality, reiterating milestones and other contractual receipts of about USD 60 million for 2026; leverage ended Q2 at 2.8x debt/Adjusted EBITDA.
