Royalty Pharma plc reported strong financial results for the first quarter of 2025 on May 8, 2025, with Portfolio Receipts increasing by 17% to $839 million compared to $717 million in Q1 2024. Royalty Receipts grew by 12% to $788 million, driven by strong performance from the cystic fibrosis franchise, Trelegy, Xtandi, and the 2024 launch of Voranigo, along with a $27 million milestone payment related to Airsupra.
The company raised its full year 2025 Portfolio Receipts guidance to a range of $2.975 billion to $3.125 billion, representing expected growth of 6% to 12%. This updated guidance reflects the strong momentum of the existing portfolio and a favorable foreign exchange tailwind.
Royalty Pharma repurchased approximately 23 million Class A ordinary shares for $723 million in the first quarter of 2025 under its new $3 billion authorization. The company also completed the sale of MorphoSys Development Funding Bonds for $511 million upfront in January 2025, providing additional capital flexibility. Furthermore, the FDA approval of Ferring Pharmaceuticals' Adstiladrin manufacturing hub in April 2025 triggered a $200 million milestone payment in the second quarter of 2025.
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