Royalty Pharma announces update on Novartis’ Phase 3 topline results for pelacarsen
NEW YORK, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Royalty Pharma plc (Nasdaq: RPRX) today announced an update on Novartis’ Phase 3 results from the HORIZON outcomes trial for pelacarsen, an antisense oligonucleotide studied in patients with atherosclerotic cardiovascular (CV) disease and elevated lipoprotein(a), or Lp(a). The trial did not meet its primary endpoint of reducing the risk of cardiovascular events, a composite of cardiovascular death, non-fatal myocardial infarction, non-fatal stroke, and urgent coronary revascularization requiring hospitalization in the overall study population, compared to placebo. Novartis intends to present the Lp(a) HORIZON trial data at an upcoming medical congress.
Royalty Pharma’s $500 million funding agreement with Ionis was structured in a protective manner, by purchasing stable and predictable royalties in Spinraza with upside potential from the pelacarsen royalty. As a result, Royalty Pharma expects to recoup its total investment and earn a modest positive return despite the pelacarsen failure.
Royalty Pharma reiterates its 2030 Portfolio Receipts target of $4.7 billion or more.
As part of its January 2023 funding agreement with Ionis, $150 million of value was ascribed to royalties acquired on pelacarsen and $350 million of value was ascribed to royalties acquired on Spinraza. Under the terms of the agreement, Royalty Pharma acquired 25% of Ionis’ Spinraza royalty payments through 2027, increasing to 45% of royalty payments in 2028, on up to $1.5 billion in annual sales. Based on the HORIZON results, Royalty Pharma does not anticipate making any milestone payments to Ionis and Royalty Pharma’s royalty interest in Spinraza will revert to Ionis after royalty payments reach $550 million, representing a 1.1x return on the total amount funded.
About Royalty Pharma plc
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, Servier’s Voranigo, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, and 17 development-stage product candidates. For more information, visit www.royaltypharma.com.
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