Cystic Fibrosis Foundation, Royalty Pharma deal

Royalty Pharma purchased from the foundation for $3.3 billion in cash the royalty rights for cystic fibrosis treatments developed by Vertex Pharmaceuticals Inc. (NASDAQ:VRTX, Boston, Mass.), including Kalydeco ivacaftor, lumacaftor, VX-661 and second-generation correctors. Royalty Pharma said the deal covers tiered royalties ranging from single digit to sub-teen percentages of net sales for Vertex CF drugs.

The CF foundation said it plans to use the funding from the sale to research one-time treatment therapies and expand patient access and education programs. The foundation remains eligible for additional undisclosed funds from Vertex. ...