NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) — Royalty Pharma plc (Nasdaq: RPRX) today announced the appointment of Ashwin Pai, M.D. as Executive Vice President, Investments. Ashwin will join Royalty Pharma in April 2023, and will report to Chris Hite, Executive Vice President and Vice Chairman.
Ashwin joins Royalty Pharma from Morgan Stanley where he was a Managing Director and Head of West Coast Biotechnology Investment Banking. In his nearly two decade career, Ashwin has been involved in some of the most significant mergers and acquisitions transactions and partnerships in the biotechnology industry. In addition, he has advised clients on numerous capital raising events, including initial public offerings, equity and structured transactions, and convertible bonds. Ashwin received both his M.D. and B.A. in Economics from Northwestern University.
“We are delighted to welcome Ashwin to Royalty Pharma,” commented Pablo Legorreta, Royalty Pharma’s founder and Chief Executive Officer. “Ashwin’s experience spans nearly two decades in advising biotechnology companies on capital raising and strategy, focusing on cultivating extensive and deep relationships throughout the life sciences West Coast ecosystem, all of which will be invaluable to Royalty Pharma’s continued growth. Further, with the enormous capital needs of the life sciences industry and significant opportunity for royalty funding, Ashwin will play a critical role in sourcing, diligencing, structuring and executing transactions and growing and strengthening Royalty Pharma’s presence on the West Coast.”
“My time at Morgan Stanley has been extremely gratifying and I feel lucky to have worked with some of the most innovative and exciting biotechnology companies over the last two decades,” said Ashwin Pai. “Looking ahead, I am thrilled to spend the next chapter of my career at Royalty Pharma, a leader in providing creative funding solutions for life science innovators.”
About Royalty Pharma
Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry, collaborating with innovators from academic institutions, research hospitals and non-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. Royalty Pharma has assembled a portfolio of royalties which entitles it to payments based directly on the top-line sales of many of the industry’s leading therapies. Royalty Pharma funds innovation in the biopharmaceutical industry both directly and indirectly – directly when it partners with companies to co-fund late-stage clinical trials and new product launches in exchange for future royalties, and indirectly when it acquires existing royalties from the original innovators. Royalty Pharma’s current portfolio includes royalties on more than 35 commercial products, including Vertex’s Trikafta, Kalydeco, Orkambi and Symdeko, Biogen’s Tysabri, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, GSK’s Trelegy, Novartis’ Promacta, Pfizer’s Nurtec ODT, Johnson & Johnson’s Tremfya, Roche’s Evrysdi, Gilead’s Trodelvy, and 12 development-stage product candidates.