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● ROYALTY PHARMA REPORTS SECOND QUARTER 2021 RESULTS Strong growth in net cash provided by operating activities ( GAAP ) and Adjusted Cash Flow ( ² ) Announced transactions of up to $ 2.8 billion in 2021 , including $ 2.1 billion in upfront payments Increased 2021 guidance : Adjusted Cash Receipts ( ¹ ) expected to be $ 2,080 to $ 2,120 million ● ROYALTY PHARMA NEW YORK , NY , August 11 , 2021 - Royalty Pharma plc ( Nasdaq : RPRX ) today reported financial results for the second quarter of 2021 and raised full - year 2021 guidance for Adjusted Cash Receipts ( ¹ ) ( a non - GAAP financial measure ) . " Since our initial public offering a little more than a year ago , we have announced acquisitions totaling $ 4.7 billion , which is a testament to the strength of our business model and leadership position in the rapidly growing biopharma royalty funding market , " said Pablo Legorreta , Royalty Pharma founder and Chief Executive Officer . " I am particularly excited by our recent strategic funding partnership with MorphoSys , which demonstrates the breadth of our funding capabilities and exemplifies the unique role that Royalty Pharma can play in M & A . We applied a similarly innovative approach to strengthening our balance sheet with our recent $ 1.3 billion debt offering , which includes our first - ever social bond , positioning us well to advance our mission of funding the development of innovative therapies . Lastly , we delivered solid financial performance in the second quarter of 2021 and are delighted to raise our full - year financial guidance . " Second quarter 2021 GAAP financial results demonstrate strong operating cash flow ● Second quarter 2021 non - GAAP financial results show continued business momentum Adjusted Cash Receipts ( ¹ ) increased 3 % to $ 475 million , driven by the CF franchise royalty receipts ( + 15 % year / year ) , Biohaven payments and royalty acquisitions , partially offset by mature product royalty expirations . Adjusted Cash Flow ( 2 ) grew 16 % to $ 429 million , reflecting a 90.2 % margin . Innovative MorphoSys transaction adds six potential cash flow streams to portfolio Further expands and diversifies portfolio with a royalty on Tremfya ; four royalties on attractive development - stage therapies , including gantenerumab in Alzheimer's disease ; and Development Funding Bonds . ● Net cash provided by operating activities increased to $ 532 million ; net cash provided by investing activities increased to $ 126 million ; net cash used in financing activities declined to $ 224 million . Total income and other revenues grew 9 % to $ 555 million , primarily driven by newly acquired assets . Raising financial guidance for 2021 Royalty Pharma now anticipates full - year 2021 Adjusted Cash Receipts ( ¹ ) to be between $ 2,080 million and $ 2,120 million , excluding new transactions announced subsequent to the date of this release . Reflects recent royalty transactions and net $ 37 million payment related to Soliqua in the third quarter . Three months ended June 30 Financial Summary ( unaudited PRESS RELEASE ( $ and shares in millions ) Net cash provided by operating activities ( GAAP ) Net cash provided / ( used in ) investing activities ( GAAP ) Net cash ( used in ) / provided by financing activities ( GAAP ) Total income and other revenues ( GAAP ) Adjusted Cash Receipts ( ¹ ) ( non - GAAP ) Adjusted Cash Flow ( 2 ) ( non - GAAP ) Weighted average Class A shares outstanding - diluted * Includes all upfront payments announced through the date of this press release . 2021 532 126 ( 224 ) 555 475 429 607 2020 489 ( 245 ) 1,579 511 462 369 n / a Change 9 % ( 152 ) % ( 114 ) % 9 % 3 % 16 % n / a 1