Arrowhead sells royalty interest in olpasiran to Royalty Pharma for $250M
Arrowhead Pharmaceuticals (NASDAQ:ARWR) has sold royalty interest in Amgen's (NASDAQ:AMGN) olpasiran to Royalty Pharma (NASDAQ:RPRX) for $250M in cash upfront plus up to $160M in additional payments contingent on the achievement of certain clinical, regulatory, and sales milestones.
Olpasiran is an siRNA therapeutic being developed by Amgen (AMGN) to reduce risk of cardiovascular disease.

Royalty Pharma (RPRX) is acquiring Arrowheadâs (ARWR) entire royalty interest in olpasiran, which is a royalty up to the low double digits on worldwide net sales.
Arrowhead (ARWR) will retain rights to the $400M in development, regulatory, and sales milestone payments potentially due from Amgen (AMGN) from the 2016 out licensing agreement.
ARWR shares are up 1.35% premarket