Royalty Pharma To Acquire Royalty Interest In Amgen's Olpasiran From Arrowhead Pharma

(RTTNews) - Royalty Pharma plc (RPRX) said it has acquired a royalty interest in Amgen's olpasiran from Arrowhead Pharmaceuticals (ARWR) for $250 million in cash upfront plus up to $160 million in additional payments contingent on the achievement of certain clinical, regulatory, and sales milestones.

Olpasiran is an siRNA therapeutic being developed by Amgen to reduce risk of cardiovascular disease.

Royalty Pharma is acquiring Arrowhead's entire royalty interest in olpasiran, which is a royalty up to the low double digits on worldwide net sales. Arrowhead will retain rights to the $400 million in development, regulatory and sales milestone payments potentially due from Amgen.