Michael Nedelcovych

Ashwani Verma

Geoffrey Meacham

Jason Gerberry

Terence Flynn

Chris Shibutani

Hardik Parikh

Chris Schott

Christopher Schott

Geoff Meacham

Michael DiFiore

Umer Raffat

- Royalty Pharma, a leader in the biopharma royalty market, held its Investor Day on **September 11, 2025**, emphasizing its strategic evolution and market leadership since its 1996 founding and 2020 IPO.  **[1802768_2139251_2]** 
- The company projects significant financial growth, targeting **$4.7 billion or more in top-line revenue by 2030** and **at least $7.5 of portfolio cash flow per share by 2030**, both exceeding current analyst consensus by **more than 10%**.  **[1802768_2139251_8]** **[1802768_2139251_38]** 
- Royalty Pharma has demonstrated strong capital deployment and returns, having invested **$13.8 billion since 2020** and consistently achieving **15% return on invested capital** and **low 20% return on invested equity**.  **[1802768_2139251_29]** **[1802768_2139251_38]** **[1802768_2139251_40]** **[1802768_2139251_42]** **[1802768_2139251_43]** 
- Key competitive advantages include market-leading scale with a **70% share in transactions over $500 million**, a highly diversified portfolio, and a track record of **over 90% of deals since 2020 exceeding its cost of capital**.  **[1802768_2139251_29]** **[1802768_2139251_40]** **[1802768_2139251_42]** 
- The company plans to deploy **around $30 billion by 2030**, primarily into new royalties, and is committed to returning capital to shareholders, including a dividend with a **2.5% yield** and planned mid-single digit annual growth.  **[1802768_2139251_44]**

Royalty Pharma Outlines Strong Growth Projections and Strategic Advantages at 2025 Investor Day

- Royalty Pharma reaffirmed its financial targets, expecting to achieve a top line of at least **$4.7 billion** and portfolio cash flow per share of at least **$7.5** by **2030**, both more than **10%** above current analyst consensus.  **[1802768_2138878_3]** **[1802768_2138878_8]** **[1802768_2138878_43]** 
- The company anticipates delivering at least a **mid-teens shareholder return** over the next five years, having deployed approximately **$14 billion** in capital on new royalty transactions since its IPO and generating a **15% return on invested capital**.  **[1802768_2138878_3]** 
- Royalty Pharma projects its adjusted EBITDA margin to increase from **90% in 2020 to around 95% next year**, partly due to the recent internalization of its manager, which is expected to drive significant value for shareholders.  **[1802768_2138878_7]** **[1802768_2138878_8]** 
- The biopharma royalty market has more than **doubled in size** since **2020**, with announced royalty transactions averaging **$6.2 billion** per year over the past five years, and Royalty Pharma holds over **70% share** of transactions greater than **$5 billion**.  **[1802768_2138878_2]** **[1802768_2138878_4]** **[1802768_2138878_19]**

Royalty Pharma Outlines Strong Growth Trajectory and Reaffirms 2030 Financial Targets

- Royalty Pharma is on track to deliver **$4.7 billion+** in top-line (Portfolio Receipts) by **2030** and **>$7.50 per share** in bottom-line (Portfolio Cash Flow) by **2030**, with these outlooks being **>10% above consensus**.  **[1802768_2138100:6]** **[1802768_2138100:7]** **[1802768_2138100:44]** **[1802768_2138100:54]** **[1802768_2138100:67]** **[1802768_2138100:68]** 
- The company aims for at least **mid-teens Total Shareholder Return (TSR)** over the next five years and has consistently delivered **mid-teens Return on Invested Capital (ROIC)**.  **[1802768_2138100:7]** **[1802768_2138100:44]** **[1802768_2138100:68]** 
- Since 2020, Royalty Pharma has deployed approximately **$14 billion** in new royalty transactions and returned approximately **$4 billion** to shareholders through dividends and share repurchases.  **[1802768_2138100:7]**  In **2024**, the company announced **$2.8 billion** in royalty transactions.  **[1802768_2138100:31]** 
- The internalization transaction, which integrated the company's diversified royalty portfolio and platform, was completed in **May 2025**.  **[1802768_2138100:19]** 
- The biopharma royalty market has experienced rapid growth, with an average annual market size of **$6 billion** from **2020-2024**, representing approximately **130% growth** compared to the prior five-year period.  **[1802768_2138100:6]** **[1802768_2138100:68]**

Royalty Pharma Investor Day 2025: Financial Outlook and Strategic Execution

Royalty Pharma (RPRX)