RPRX on Nasdaq

Royalty Pharma plc

We are the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry.4 From its latest annual report

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Last updated Oct 19, 2026.

Overview

$2.4BRevenue, fiscal 20252
$770.9MNet income, fiscal 20252

Compare with Endo International plc, Amneal Pharmaceuticals, Inc. or Sarepta Therapeutics, or pick any stock.

  • TickerRPRX on Nasdaq1
  • IndustryPharmaceutical Preparations1
  • HeadquartersNew York, New York1
  • Incorporated inUnited Kingdom3
  • Business address110 East 59Th Street, New York, Ny 100223
  • Filer categoryLarge accelerated filer3

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We are the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry. Since our founding in 1996, we have been pioneers in the royalty market, collaborating with innovators from academic institutions, research hospitals and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. We have assembled a portfolio of royalties which entitles us to payments based directly on the top-line sales of many of the industry’s leading therapies, which includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, GSK’s Trelegy, Biogen’s Tysabri and Spinraza, Roche’s Evrysdi, Astellas and Pfizer’s Xtandi, Johnson & Johnson’s Tremfya, AbbVie and Johnson & Johnson’s Imbruvica, Servier’s Voranigo, Gilead’s Trodelvy, Amgen’s Imdelltra and Alnylam’s Amvuttra, am…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

65.6%Operating margin2
32.4%Net margin2
5.1%Revenue growth, 20252
7.9%Return on equity2
0.88×Debt to equity2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Financial Royalty Assets brought in 95% of the revenue Royalty Pharma plc broke down this way in fiscal 2025.

  1. Financial Royalty Assets$2.3B295%up 5% from 2024
  2. Royalty Income, Other$117.0M25%up 3% from 2024
Products and services by year
Products and services202320242025
Financial Royalty Assets$2.2B$2.1B$2.3B
Royalty Income, Other$156.8M$114.2M$117.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development19¢$452.0M
  • Other costs49¢$1.2B
  • Profit32¢$770.9M

Out of $2.4B in revenue.2

Where each dollar of operating cash went, fiscal 2025

  • Share buybacks49¢$1.2B
  • Kept or used elsewhere51¢$1.3B

Out of $2.5B of cash from operations.2

Financial statements

Revenue567892$2.4B in 2025+32% since 2018
0$1.0B$2.0B$3.0B2018: $1.8B$1.8B20182019: $1.8B$1.8B2019+1%2020: $2.1B$2.1B2020+17%2021: $2.3B$2.3B2021+8%2022: $2.2B$2.2B2022−2%2023: $2.4B$2.4B2023+5%2024: $2.3B$2.3B2024−4%2025: $2.4B$2.4B2025+5%
Operating income567892$1.6B in 2025+14% since 2018
0$1.0B$2.0B$3.0B2018: $1.4B$1.4B20182019: $2.6B$2.6B2019+92%2020: $1.6B$1.6B2020−39%2021: $1.4B$1.4B2021−10%2022: $307.1M$307.1M2022−79%2023: $1.5B$1.5B2023+386%2024: $1.3B$1.3B2024−13%2025: $1.6B$1.6B2025+21%
Net income567892$770.9M in 2025−44% since 2018
0$1.0B$2.0B$3.0B2018: $1.4B$1.4B20182019: $2.3B$2.3B2019+70%2020: $975.0M$975.0M2020−58%2021: $619.7M$619.7M2021−36%2022: $42.8M$42.8M2022−93%2023: $1.1B$1.1B2023+2550%2024: $859.0M$859.0M2024−24%2025: $770.9M$770.9M2025−10%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Total income and other revenues$2.4B$2.3B$2.4B
Provision for changes in expected cash flows from financial royalty assets-$295.8M$732.5M$560.7M
Provision for credit losses on unfunded commitments$89.0M$0$0
Research and development funding expense$452.0M$2.0M$52.0M
General and administrative expenses (includes $290,890, $3,224, and $3,302 of share-based compensation expense for the years ended December 31, 2025, 2024 and 2023, respectively; see Note 4)$573.5M$236.7M$249.7M
Total operating expense, net$818.7M$971.1M$862.4M
Operating income$1.6B$1.3B$1.5B
Equity in earnings of equity method investees-$29.1M-$29.6M-$28.9M
Interest expense$307.7M$225.5M$187.2M
Losses on derivative financial instruments$0$6.0M$2.3M
Losses/(gains) on equity securities$21.9M-$39.5M-$87.1M
Gains on available for sale debt securities-$45.9M-$154.9M-$230.8M
Interest income-$33.6M-$47.3M-$72.3M
Other non-operating expenses, net$14.3M$1.5M$21.7M
Total other expense/(income), net$235.3M-$38.4M-$207.9M
Consolidated net income before tax$1.3B$1.3B$1.7B
Income tax expense$0$0$0
Consolidated net income$1.3B$1.3B$1.7B
Net income attributable to non-controlling interests$553.2M$471.8M$565.3M
Net income attributable to Royalty Pharma plc$770.9M$859.0M$1.1B
Basic (in dollars per share)$1.79$1.92$2.54
Diluted (in dollars per share)$1.78$1.91$2.53
Basic (in shares)429.8M shares448.2M shares447.6M shares
Diluted (in shares)564.5M shares594.1M shares602.9M shares
Share-based compensation expense$290.9M$3.2M$3.3M

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Leadership

Who has led Royalty Pharma plc, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Pablo G. Legorreta2020–now

Chair

  1. Pablo G. Legorreta2020–2026
  2. Christopher Hite2026–now

Chief financial officer

  1. Terrance P. Coyne2020–now
2025
Board members and other officers (19)

Timeline

  1. Jun 15, 2020New chief executive Pablo G. Legorreta becomes CEO13

Filings

459 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 62 major events, 239 insider forms, 35 large holders, 103 other. The latest 20:

  1. Oct 5, 2026144 EDGAR
  2. Oct 5, 20264 EDGAR
  3. Sep 30, 20264 EDGAR
  4. Sep 30, 20264 EDGAR
  5. Sep 28, 2026144 EDGAR
  6. Sep 24, 20264 EDGAR
  7. Sep 22, 2026144 EDGAR
  8. Aug 19, 20264 EDGAR
  9. Aug 18, 2026144 EDGAR
  10. Aug 17, 20264 EDGAR
  11. Aug 17, 2026SCHEDULE 13D/A EDGAR
  12. Aug 14, 202613F-NT EDGAR
  13. Aug 13, 2026144 EDGAR
  14. Aug 12, 2026144 EDGAR
  15. Aug 12, 2026144 EDGAR
  16. Aug 7, 20264 EDGAR
  17. Aug 7, 20264 EDGAR
  18. Aug 7, 20264 EDGAR
  19. Aug 7, 20264 EDGAR
  20. Aug 5, 202610-Q EDGAR

The 459 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

133 open-market trades by officers, directors and large owners since October 2021: 7 buys and 126 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 28, 2026Urist MarshallEVP, Research & InvestmentsSale4,126$57.88$238.8KForm 4
Sep 22, 2026Hite ChristopherEVP & Chairman, PartneringSale100,000$58.53$5.9MForm 4
Aug 18, 2026Hite ChristopherEVP & Chairman, PartneringSale100,000$59.97$6.0MForm 4
Aug 13, 2026Coyne Terrance P.EVP & CFOSale11,002$58.68$645.6KForm 4
Jul 1, 2026Urist MarshallEVP, Research & InvestmentsSale9,099$55.88$508.5KForm 4
Jun 30, 2026Hite ChristopherEVP & Chairman, PartneringSale130,000$56.50$7.3MForm 4
Jun 24, 2026Urist MarshallEVP, Research & InvestmentsSale9,098$55.18$502.0KForm 4
Jun 23, 2026Hite ChristopherEVP & Chairman, PartneringSale150,000$54.39$8.2MForm 4
May 26, 2026Coyne Terrance P.EVP & CFOSale64,399$53.98$3.5MForm 4
May 20, 2026Urist MarshallEVP, Research & InvestmentsSale13,684$52.75$721.8KForm 4
May 14, 2026Urist MarshallEVP, Research & InvestmentsSale13,684$53.06$726.1KForm 4
May 14, 2026Norden GregoryDirectorSale3,045$53.00$161.4KForm 4
Apr 28, 2026Coyne Terrance P.EVP & CFOSale34,791$49.78$1.7MForm 4
Apr 1, 2026Coyne Terrance P.EVP & CFOSale34,791$48.33$1.7MForm 4
Mar 23, 2026Coyne Terrance P.EVP & CFOSale34,791$45.53$1.6MForm 4
Mar 2, 2026Coyne Terrance P.EVP & CFOSale34,791$46.78$1.6MForm 4
Feb 23, 2026Coyne Terrance P.EVP & CFOSale34,791$45.32$1.6MForm 4
Feb 4, 2026Coyne Terrance P.EVP & CFOSale20,163$43.29$872.9KForm 4
Feb 3, 2026Coyne Terrance P.EVP & CFOSale114,954$42.84$4.9MForm 4
Feb 2, 2026Coyne Terrance P.EVP & CFOSale108,424$42.08$4.6MForm 4

All 133 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Sources

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