The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland February 1, 2018.
REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsOct 19 (Reuters) - Royalty Pharma (RPRX.O) said on Thursday it has purchased additional royalties on Roche (ROG.S) and PTC Therapeutics' (PTCT.O) oral spinal muscular atrophy (SMA) drug for an upfront payment of $1 billion.
Spinal muscular atrophy, a leading genetic cause of infant deaths, prevents the body from producing a protein necessary for neuromuscular development.
The deal also includes options for PTC to sell up to all of its retained royalties on Evrysdi for up to $500 million at a later date, Royalty Pharma said.
Royalty Pharma expects to fund the transaction with a combination of existing cash and about $350 million from its revolving credit facility.
Persons:
drugmaker Roche, Arnd, Roche, Mariam Sunny, Shilpi Majumdar
Organizations:
REUTERS, Royalty Pharma, PTC Therapeutics, U.S . Food, Drug Administration, PTC, Thomson
Locations:
Basel, Switzerland, Bengaluru