Nektar Therapeutics (NKTR)

[mlkrborn]

"Nektar Therapeutics announces agreement to sell Cimzia and Mircera royalties to Royalty Pharma for $124 mln (NKTR) 6.75 : Co announced that it agreed to sell to Royalty Pharma its royalties on future sales of CIMZIA, under Nektar's agreement with UCB Pharma, and MIRCERA, under Nektar's agreement with Roche (RHHBY). In consideration for the sale, Royalty Pharma will pay Nektar an aggregate cash payment of $124.0 million. Nektar intends to use the net proceeds of the transaction towards the repayment of its $215.0 mln of convertible debt. For the twelve month period ended December 31, 2011, Nektar recognized $8.3 mln in aggregate royalties from net sales of CIMZIA and MIRCERA."