Royalty Pharma Plc RPRX, -0.69% priced its initial public offering late Monday at $28 a share, the top end of its price range, and upsized the deal, suggesting strong demand from investors.How big is the revenue from royalties in the pharmaceutical industry?
The listing is one of five scheduled this week in the US, all of which are pharmaceutical companies. The activity comes after 16 listings over the past two weeks. Royalty Pharma generated $1.6bn in revenue from royalties last year, up 8 per cent from 2018.Should you invest in Royalty Pharma?
"Royalty Pharma is highly profitable and generates strong cash flow, and it intends to pay a dividend with 2.3% yield at the midpoint," said Renaissance Capital, a provider of institutional research and IPO ETFs, in commentary.There are 13 banks underwriting the deal, led by J.P. Morgan.How do I contact Royalty Pharma?