Royalty Pharma agrees to buy Ionis Pharma royalties for $1.125 bln

Royalty Pharma Plc said Monday it agreed to pay up to $1.125 billion for drug royalties owned by Ionis Pharmaceuticals Inc. . The royalties include Ionis’ interests in Biogen’s Spinraza (nusinersen) medicine and Novartis’ pelacarsen. Shares of Royalty Pharma rose 1.9% in premarket trades while Ionis rose 2.6%.

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