STAT Plus: The next record-setting IPO: a drug company that doesn’t develop drugs
Royalty Pharma, a business built on investing in other people’s medicines, is planning to raise $2 billion in what would be the drug industry’s largest-ever initial public offering.
The company, founded in 1996, intends to sell 70 million shares at between $25 and $28 each. The offering, expected to price next week, would give it a market value of about $16 billion. The drug industry’s IPO record is currently held by Moderna, which raised about $600 million in a 2018 debut that valued it at above $7 billion.
