BeOne Medicines to Sell Amgen Cancer Drug Royalties for Up to $950 Million in Pharma Tie-Up

BeOne Medicines agreed to sell royalty rights on Amgen's cancer drug Imdelltra for up to $950 million to Royalty Pharma. BeOne will receive an upfront payment of $885 million and has the option to sell remaining royalties within 12 months for up to $65 million. The deal allows BeOne to share in a portion of the royalty on annual sales above $1.5 billion and maintain royalty rights to other assets under the existing collaboration with Amgen.

Royalty Pharma plc (Nasdaq: RPRX) has announced the acquisition of a royalty interest in Amgen’s Imdelltra, a first-in-class immunotherapy for the treatment of extensive-stage small cell lung cancer (ES-SCLC), from BeOne Medicines for up to $950 million. The transaction includes an upfront payment of $885 million, with BeOne retaining an option to sell additional royalties for up to $65 million within the next 12 months.

Imdelltra, which received accelerated FDA approval in May 2024, is expected to enhance Royalty Pharma’s long-term growth and portfolio diversification. The drug has shown significant market potential, with sales reaching $215 million in the first half of 2025 and projected to exceed $2.8 billion by 2035 [1].

The royalty agreement allows Royalty Pharma to share in a portion of the royalty on Imdelltra’s annual sales above $1.5 billion. BeOne will retain China commercial rights to Imdelltra and maintain royalty rights to other assets under the existing collaboration with Amgen.

“Today’s transaction is consistent with our strategy of acquiring royalties on highly transformative products in life sciences,” said Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer. “Imdelltra is reshaping the treatment paradigm for patients with small cell lung cancer, a highly aggressive disease with few treatment options.”

John V. Oyler, Co-Founder, Chairman, and CEO of BeOne, stated, “By monetizing a significant portion of our royalty interest in Imdelltra, we are able to strengthen our balance sheet and unlock substantial value. We are pleased to reach this agreement with Royalty Pharma, a recognized leader in funding life sciences innovation.”

The transaction is subject to customary closing conditions and is expected to close in the near future.

References:
[1] https://www.royaltypharma.com/news/royalty-pharma-to-acquire-royalty-interest-in-amgens-imdelltra-for-up-to-950-million/
[2] https://www.fiercepharma.com/pharma/beone-bags-885m-royalty-deal-amgen-lung-cancer-drug-imdelltra