Investor Presentaiton
Strong business momentum
Diversified portfolio growth
Efficient compounding engine
Sustainable long-term growth
Consistent attractive returns amplified with conservative leverage
Estimated unlevered returns
Rolling 5-year investment periods (%) (1)
Leverage benefit to return profile
Based on investment periods since 2012 (%) (1)
25
High Teens to
Low 20s %
25
Investment Targets:
20
High-single to low-double digit % for approved therapies
Teens % for development-stage therapies
20
Low Teens
Blended %
15
15
Low Teens % Average Returns
10
5
10
5
Benefit of
conservative
leverage
Roughly 1/3 of royalty
acquisitions funded
with low-cost debt
0
0
'12-'16
'13-'17
'14-'18
'15-'19
'16-'20
'17-'21
Royalty Pharma
Unlevered Returns
Royalty Pharma
Levered Returns
Proven track record of consistent returns, amplified with conservative leverage, creating value in excess of cost of capital
ROYALTY PHARMA 1. Illustrative returns reflect a combination of actual results and estimated projected returns based on analyst consensus sales projections (where applicable).
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