
Royalty Pharma Earnings: Pelacarsen Disappointment Matched by Portfolio Outperformance Elsewhere
For the third quarter, Royalty Pharma delivered 9% growth in top-line portfolio receipts and 8% growth in adjusted EBITDA. The firm modestly raised guidance, but disappointing results from Novartis' phase 3 pelacarsen trial prompted Royalty Pharma to record a $150 million impairment charge.