Teva Pharmaceutical Industries will present its transformation strategy and growth outlook through 2030 at the J.P. Morgan Healthcare Conference. The company expects 2025 revenues of $16.8-$17.0 billion with operating margins of 26.2-27.1%, driven by innovative brands like AUSTEDO, AJOVY, and UZEDY. Teva targets investment-grade credit rating and projects mid-single digit revenue CAGR through 2030 with operating margins exceeding 30%. Additionally, Teva announced a $500 million agreement with Royalty Pharma to accelerate development of an anti-IL-15 candidate for vitiligo treatment.

Royalty Pharma and Teva announced a funding agreement of up to $500 million to accelerate clinical development of TEV-'408, an anti-IL-15 antibody candidate for vitiligo and celiac disease. The deal includes $75 million for Phase 2b funding with an option for an additional $425 million for Phase 3 development, contingent on Phase 2b results.

Teva Pharmaceuticals and Royalty Pharma announced a funding agreement worth up to $500 million to accelerate clinical development of TEV-'408, an anti-IL-15 antibody candidate for vitiligo treatment. The deal includes $75 million for Phase 2b funding with an option for an additional $425 million for Phase 3 development. TEV-'408 is currently in Phase 1b for vitiligo and Phase 2a for celiac disease, addressing a significant unmet medical need with limited current treatment options.

Royalty Pharma (NASDAQ: RPRX) announced a 6.8% increase in its quarterly dividend to $0.235 per Class A ordinary share for Q1 2026. The dividend will be paid on March 10, 2026 to shareholders of record as of February 20, 2026.

Merck & Co. is in advanced talks to acquire cancer drug-maker Revolution Medicines for $28-32 billion, marking potentially the largest biotech M&A deal since Pfizer's $43 billion Seagen acquisition in 2023. Revolution Medicines' stock surged 15.14% overnight on the news. The deal reflects Merck's acquisition strategy amid an industry patent cliff, following recent purchases of Cidara Therapeutics and Verona Pharma.

Royalty Pharma acquired the final portion of PTC Therapeutics' royalty on Roche's Evrysdi for $240 million upfront plus up to $60 million in milestones, giving it 100% ownership of the 8-16% tiered royalty. Evrysdi generated $1.9 billion in 2024 sales with projected growth to $2.9 billion by 2030. RPRX stock is up 53% year-to-date but down slightly on Wednesday. The company also recently acquired royalty interests in Nuvalent's cancer drugs.

Royalty Pharma has acquired the final portion of PTC Therapeutics' remaining royalty on Roche's Evrysdi for $240 million upfront plus up to $60 million in sales-based milestones. Following the transaction, Royalty Pharma will own 100% of the tiered 8% to 16% royalty on worldwide net sales of Evrysdi, an FDA-approved spinal muscular atrophy treatment that generated approximately $1.9 billion in sales in 2024 with projected growth to $2.9 billion by 2030.

Cytokinetics reported strong progress towards potential FDA approval of aficamten for hypertrophic cardiomyopathy by December 26, 2025, with ongoing regulatory reviews in the U.S., China, and E.U. The company maintains a strong cash position of $1.25 billion and continues advancing multiple cardiac muscle treatment programs.

Royalty Pharma announced a $2.0 billion senior unsecured notes offering with three tranches: $600 million due 2031, $900 million due 2035, and $500 million due 2055. The proceeds will be used for general corporate purposes.

Royalty Pharma will acquire a royalty interest in Amgen's Imdelltra, a first-in-class immunotherapy for extensive-stage small cell lung cancer, for $885 million upfront with an additional potential $65 million option from BeOne Medicines.

Royalty Pharma announced a quarterly dividend of $0.22 per Class A ordinary share, to be paid on September 10, 2025, to shareholders of record as of August 15, 2025.

Royalty Pharma has successfully completed the acquisition of its external manager, RP Management, LLC. This transaction is expected to enhance long-term shareholder value through a simplified corporate structure, strengthened shareholder alignment, enhanced governance, significant cash savings, and increased economic return on investments.