Investor Presentaiton
Strong business momentum
Diversified portfolio growth
Efficient compounding engine
Significant firepower to drive growth and create value
Sustainable long-term growth
Capacity for capital deployment over 5 years
Cumulative
5-Year capacity:
Capital allocation priorities
Cash generated by future acquisitions (1)
Incremental debt capacity to 4.0x
>$20bn
>$15bn
>$13bn
•
Cash generated by existing portfolio (1)
Balance sheet cash at March 31, 2022
2022e
2023e
2024e
2025e
2026e
Royalty acquisitions (primary focus)
Majority self-funded over time via retained cash flow
Incremental debt at conservative leverage levels
Strong commitment to investment grade ratings
Return of capital
•
Current quarterly dividend of $0.19 per share
•
Share repurchases are an additional tool over time (2)
>$2bn
Primary focus of our business is creating value by acquiring royalties on innovative products
ROYALTY PHARMA
1. Cash generated reflects Adjusted EBITDA less interest paid and excludes development-stage funding payments (ongoing and upfront & milestones), other previously committed funding, payments
for future royalty acquisitions and return of capital.
2. Pending shareholder authorization at 2022 Annual General Meeting and subject to Board approval.
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