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To: Sun Tzu who wrote (3998)

5/13/2022 9:57:14 AM

From: Sun Tzu

Respond to of 10692

Scotiabank Initiates Coverage On Royalty Pharma with Outperform Rating, Announces Price Target of $53

BY Benzinga

— 8:00 AM ET 05/13/2022

To: Sun Tzu who wrote (3998)	5/17/2022 9:13:43 AM
From: Sun Tzu	Respond to of 10692

Royalty Pharma Sets New Capital Deployment Target BY MT Newswires — 7:45 AM ET 05/17/2022 07:45 AM EDT, 05/17/2022 (MT Newswires) -- Royalty Pharma (RPRX) said Tuesday it has set a new capital deployment target of $10 billion to $12 billion over the next five years. The company had previously set a capital deployment target of more than $7 billion. The updated target implies an average annual investment of $2 billion to $2.5 billion, the company said. Royalty Pharma (RPRX) expects to increase its average annual capital deployment to $4 billion to $5 billion over the long term. Also, the company raised the range of its expected compounded annual growth in adjusted cash receipts to 11% to 14% from 2020 to 2025, instead of the previously expected range of 7% to 10%. Adjusted cash receipts are expected to increase 10% or more on a compounded annual basis from 2020 to 2030, the company added.