Gilead Sciences and Royalty Pharma Announce $525 Million Agreement with Emory University to Purchase Royalty Interest for Emtricitabine

Foster City, CA, New York, NY, and Atlanta, GA, July 18, 2005 – Gilead Sciences, Inc. (Nasdaq: GILD) and Royalty Pharma today announced that the companies have entered into an agreement with Emory University providing for the purchase of the royalty interest owed to Emory for emtricitabine, also known as Emtriva®. Under the terms of the agreement, Gilead and Royalty Pharma will make a one-time cash payment of $525 million to Emory in exchange for elimination of the emtricitabine royalties due to Emory on worldwide net sales of the product.

Source: Original Article