Royalty Pharma Acquires Imdelltra Royalty Rights from BeOne Medicines for Up to $950M

Royalty Pharma has agreed to buy the royalty rights on Amgen's cancer drug Imdelltra from BeOne Medicines for up to $950M. Imdelltra is an immunotherapy drug approved in the US for certain cancer patients. The deal will see Royalty Pharma receive payments based on a percentage of Imdelltra's sales, excluding China, over a certain period.

Royalty Pharma plc (Nasdaq: RPRX) has agreed to acquire a royalty interest in Amgen’s Imdelltra, a first-in-class immunotherapy for extensive-stage small cell lung cancer (ES-SCLC), from BeOne Medicines for up to $950 million. The deal involves an upfront payment of $885 million, with an option for BeOne to sell an additional portion of its royalty to Royalty Pharma for up to $65 million within the next 12 months. This acquisition aligns with Royalty Pharma’s strategy of investing in highly transformative products in the life sciences sector.

Imdelltra received accelerated approval from the U.S. Food and Drug Administration (FDA) in May 2024 for the treatment of ES-SCLC in patients who have progressed on or after receiving platinum-based chemotherapy. The drug has shown promising results, with sales reaching $215 million in the first half of 2025 and projected to exceed $2.8 billion by 2035 based on analyst consensus.

Royalty Pharma will pay for approximately 7% of Imdelltra’s worldwide net sales, excluding China, over the next 12 to 15 years. The royalty duration is expected to extend through 2038-2041. BeOne will retain China commercial rights to Imdelltra.

The transaction is significant for both companies. Royalty Pharma expects Imdelltra to enhance its long-term growth and portfolio diversification, while BeOne will strengthen its balance sheet and unlock substantial value. The deal provides BeOne with increased operational and strategic flexibility to continue executing its mission to deliver multiple transformative medicines to patients worldwide.

This acquisition is part of Royalty Pharma’s ongoing strategy to fund innovation in the biopharmaceutical industry. The company has a robust transaction pipeline and is known for its collaboration with innovators from academic institutions, research hospitals, and non-profits to leading global pharmaceutical companies.

References:
[1] https://www.royaltypharma.com/news/royalty-pharma-to-acquire-royalty-interest-in-amgens-imdelltra-for-up-to-950-million/
[2] https://www.nasdaq.com/articles/royalty-pharma-acquires-royalty-interest-imdelltra-beone
[3] https://finance.yahoo.com/news/royalty-pharma-acquire-royalty-interest-101000129.html