Royalty Pharma Seals $950M Cancer Royalties Deal with Amgen, Boosting Its Oncology Portfolio

Royalty Pharma has acquired a royalty interest in Amgen's cancer drug Imdelltra for up to $950 million. The deal gives Royalty Pharma access to 7% of global net sales, with a $885 million upfront payment and an option to sell an additional portion for up to $65 million. The royalties are expected to last until 2038-2041, strengthening Royalty Pharma's portfolio of oncology-related royalties.

Royalty Pharma has entered into a significant agreement to purchase a royalty interest in Amgen’s lung cancer therapy Imdelltra, committing up to $950 million. The transaction includes an upfront payment of $885 million to BeOne Medicines, with an option to acquire additional royalty rights worth up to $65 million within twelve months. Under the deal, Royalty Pharma will receive approximately 7% of global net sales of Imdelltra, excluding the Chinese market.

Imdelltra, approved in the U.S. in 2024 for small cell lung cancer patients whose disease progressed after platinum-based chemotherapy, has demonstrated remarkable clinical results. A Phase 3 trial showed a 40% reduction in risk of death and a median overall survival of 13.6 months compared to 8.3 months with chemotherapy. Sales reached $215 million in the first half of 2025 and are forecasted to generate over $2.8 billion annually by 2035.

The acquisition significantly boosts Royalty Pharma’s oncology royalty portfolio and positions them for long-term benefit, with royalty flows expected to continue until approximately 2038-2041.

References:
[1] https://www.pharmiweb.com/pwtoday-story/royalty-pharma-secures-950-million-royalty-stake-in-amgen-s-imdelltra
[2] https://www.businesswire.com/news/home/20250825210828/en/BeOne-Medicines-Announces-IMDELLTRA-Royalty-Purchase-Agreement-for-up-to-%24950-Million
[3] https://www.morningstar.com/news/business-wire/20250825210828/beone-medicines-announces-imdelltra-royalty-purchase-agreement-for-up-to-950-million