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June 30, 2022, 8:42 a.m. EDT

Blueprint inks deal with Sixth Street, Royalty Pharma worth up to $1.2 billion

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By Jaimy Lee

Shares of Blueprint Medicines Corp. /zigman2/quotes/209215354/composite BPMC -3.14% gained 3.3% in premarket trading on Thursday after the company announced a deal with investment firm Sixth Street and Royalty Pharma /zigman2/quotes/205762709/composite RPRX -0.61% , which acquires pharmaceutical royalties, worth up to $1.2 billion. Sixth Street will pay $250 million upfront for future royalties for two products, up to $400 million in a senior secured credit facility, and $260 million in a potential credit facility to support any buy-side business opportunities. Royalty Pharma will pay $175 million for royalties for some sales of cancer-drug Gavreto, with up to $165 million in potential milestones. Blueprint's stock is down 51.2% this year, while the broader S&P 500 /zigman2/quotes/210599714/realtime SPX +0.40% has declined 19.9%.

/zigman2/quotes/209215354/composite
US : U.S.: Nasdaq
$ 69.95
-2.27 -3.14%
Volume: 605,896
Aug. 15, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.18 billion
Rev. per Employee
$465,632
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/zigman2/quotes/205762709/composite
US : U.S.: Nasdaq
$ 43.93
-0.27 -0.61%
Volume: 1.89M
Aug. 15, 2022 4:00p
P/E Ratio
40.91
Dividend Yield
1.73%
Market Cap
$26.76 billion
Rev. per Employee
$34.24M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,297.14
+16.99 +0.40%
Volume: 2.22B
Aug. 15, 2022 5:46p
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