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Royalty Pharma Posts Lower Net Income Attributable to Controlling Interests, Higher Revenue

05/11/2021 03:53

07:39 AM EDT, 05/11/2021 (MT Newswires) -- Royalty Pharma (RPRX) posted Q1 net income attributable to controlling interests of $69 million Tuesday,

versus $71 million a year ago.

Adjusted cash receipts increased 37% to $524 million.

Revenue increased to $526 million from $471 million a year ago. The Street forecast was for revenue of $590.7 million.

Looking ahead, the company expects 2021 adjusted cash receipts of $1.94 billion to $1.98 billion from the previous outlook of $1.91 billion to $1.96 billion. The company projects payments for operating and professional costs to be about 9% to 10% of adjusted cash receipts for the year.

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