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US government awards $1.4bn for development of COVID-19 vaccines and therapeutics

August 24, 2023


Royalty Pharma, a company specializing in acquiring pharmaceutical royalties, and Ferring Pharmaceuticals, a biopharmaceutical company with a new gene therapy expected to hit the market, announced that Royalty Pharma had acquired a synthetic royalty on US net sales of Ferring’s adstiladrin (nadofaragene firadenovec-vncg) gene therapy treatment on Aug. 24, 2023. Royalty Pharma will pay $300 million upfront for a 5.1% royalty on net sales of the treatment in the United States. An additional $200 million milestone payment is contingent on certain manufacturing goals that are expected to be achieved in 2025, according to a company press release; once this payment is made, the royalty will increase to 8.0%.

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