Benzinga | Dec 22, 2020 08:36AM EST

Nektar Therapeutics Announces Agreement With Healthcare Royalty To Sell ADYNOVATE And MOVANTIK Royalties For $150M

SAN FRANCISCO, Dec. 22, 2020 /PRNewswire/ -- Nektar Therapeutics (NASDAQ: NKTR) today announced that it agreed to sell to entities managed by Healthcare Royalty Management, LLC (HCR) its royalties on future sales of ADYNOVATE, under Nektar's agreement with Baxalta Incorporated, a Takeda company, and MOVANTIK, under Nektar's agreement with AstraZeneca AB. Under the terms of the new Purchase and Sale Agreement, HCR will pay Nektar an aggregate cash payment of $150.0 million by December 31, 2020.