CF Foundation sells royalty rights for $3.3B

Royalty Pharma (New York, N.Y.) paid $3.3 billion to acquire the Cystic Fibrosis Foundation's rights to royalties from cystic fibrosis (CF) treatments developed by Vertex Pharmaceuticals Inc. (NASDAQ:VRTX). The deal includes royalties from Kalydeco ivacaftor, lumacaftor ( VX-809), VX-661 and second generation correctors.

The foundation has committed $150 million to Vertex's research efforts since the company started its CF research program in 2000 as part of a deal with CFF. ...