Royalty Pharma raises 2026 guidance after 14% Royalty Receipts growth in Q2
The company cited new drug approvals and an expanded pipeline as it lifted its full-year Portfolio Receipts outlook to $3,400 million to $3,500 million.
Royalty Pharma reported second quarter 2026 results on August 5, 2026, highlighting several regulatory and clinical milestones across its royalty portfolio. Revolution Medicines' NDA for daraxonrasib in pancreatic cancer was accepted for review by the FDA, and the EMA started an accelerated review; Gilead's Trodelvy received FDA and EC approval for first-line metastatic triple-negative breast cancer; GSK's Jideytro received FDA approval for ROS1-positive non-small cell lung cancer; and Amgen's Imdelltra received EC approval for small cell lung cancer.1
On the transaction front, in July 2026 Royalty Pharma acquired a portion of Neurimmune AG's royalty interest in AstraZeneca's cliramitug, with total potential payments of up to $425 million, of which $125 million was paid upfront.1 The drug is described as a Phase 3 first-in-class transthyretin (TTR)-fibril-depleting antibody designed to remove amyloid deposits in patients with TTR amyloidosis with cardiomyopathy, a progressive, degenerative and fatal disease caused by misfolded proteins that accumulate in the heart.1 This deal brought the company's development-stage pipeline to 19 candidates, according to CEO Pablo Legorreta.
Other pipeline updates included positive Phase 3 results for Cytokinetics' Myqorzo in non-obstructive hypertrophic cardiomyopathy, where the trial met both dual primary endpoints, demonstrating statistically significant improvements from baseline to week 36 versus placebo.1 Jazz Pharmaceuticals also saw the FDA accept for filing a supplemental BLA for Ziihera in first-line HER2-positive metastatic gastroesophageal adenocarcinoma, with Priority Review and a PDUFA date of August 25, 2026.1
On guidance, Royalty Pharma raised its 2026 Portfolio Receipts outlook to a range of $3,400 million to $3,500 million, up from $3,325 million to $3,450 million, implying Royalty Receipts growth of 7% to 10%.1
Regarding cash position, the company reported that as of June 30, 2026, it held cash and cash equivalents of $812 million against total debt with a principal value of $9.2 billion,1 and noted that it repaid its $380 million term loan upon maturity in July 2026.1
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