WilmerHale Represents PTC Therapeutics in $1.5B Evrysdi® Royalty Agreement with Royalty Pharma

WilmerHale Represents PTC Therapeutics in $1.5B Evrysdi® Royalty Agreement with Royalty Pharma

Client News
On October 19, 2023, PTC Therapeutics, Inc. (NASDAQ: PTCT) announced an agreement with Royalty Pharma plc. to monetize PTC’s remaining interests in its Evrysdi royalty stream for up to $1.5 billion. Under the agreement, Royalty Pharma acquired certain royalties on Evrysdi for $1.0 billion upfront. The agreement also includes options for PTC to sell up to all of its retained royalties on Evrysdi for up to an additional $500 million, and for Royalty Pharma to acquire half of such retained royalties for up to $250 million at a later date. PTC maintains all economics associated with up to $250 million in remaining commercial sales milestones associated with Evrysdi global net sales.

The agreement builds on the previous strategic partnership established in 2020 with Royalty Pharma.

The WilmerHale legal team advising PTC Therapeutics was led by George Shuster and Nathan Moore with assistance from Emily Powers.