Royalty Pharma, PE firm that quietly profits on top-selling drugs

Company owns partial rights to seven of 30 top-selling drugs in US, with its deals getting larger

Cashing in on rising drug prices often unleashes an outcry from consumers and politicians.
 
But a little-known private equity investor, Royalty Pharma, has built an unusual investment portfolio valued at $15 billion — it buys up the rights to royalties on future drug sales — while largely avoiding public controversy. By its own count, Royalty Pharma owns partial rights to seven of the 30 top-selling drugs in the United States, including giants like Humira, the arthritis treatment that is the single biggest-selling medication in America. And its deals have been getting larger.
 
Outrage over outsize drug-price increases has