NEW YORK, March 02, 2026 (GLOBE NEWSWIRE) -- Royalty Pharma plc (NASDAQ:RPRX) today announced the appointment of Kenneth Sun as Senior Vice President and Head of Asia, effective May 2026. Ken will be based in Hong Kong and lead the company's royalty business in Asia. Ken joins Royalty Pharma from Morgan Stanley, where he was Head of Asia Pacific Healthcare Investment Banking.

Asia-based biotechnology companies are now prolific creators of innovative therapeutics. In 2025, the out-licensing of Chinese medicines alone comprised over $130 billion of announced transaction value, up from approximately $14 billion in 2021, as multinational pharmaceutical companies increasingly recognized the value of this innovation. This momentum is expected to continue into 2026 and beyond, as modalities, therapeutic areas and deal structures out of Asia become increasingly innovative, comprehensive and diverse.

The royalties from these transactions are creating a new market opportunity for royalty-based funding. Royalty Pharma will partner with biotechnology innovators to build the royalty market in greater Asia, just as Royalty Pharma played a foundational role in establishing the biopharma royalty market in the west by working closely with universities, research institutions and biopharma companies over two decades ago.

"We are excited to welcome Ken, who has a deep and strategic understanding of the funding needs created by the incredible innovation occurring across Asia," said Pablo Legorreta, Chief Executive Officer and Chairman of the Board of Royalty Pharma. "On‑the‑ground expertise and strong local relationships are essential in Asia, where we see an important long‑term opportunity to fund innovation through royalties and other creative structures. Ken will be instrumental as we continue to expand our global platform."

"I am incredibly thrilled to join Royalty Pharma, the pioneer and undisputed leader of the royalty market," said Mr. Sun. "Royalty creation in Asia has grown rapidly and represents a potentially important new source of flexible, non-dilutive capital at significant scale to innovative biotech companies. I could not be more excited to help build and grow the royalty market at a time when biopharma innovation in the region is rapidly advancing."

In his previous role as Managing Director, Head of Asia Pacific Healthcare Investment Banking at Morgan Stanley, Ken led the establishment of the bank's leadership position in China. He advised a diverse spectrum of strategic clients, including biotech, medtech, CRO, pharmaceutical and healthcare service companies. Ken successfully led origination and execution of notable and industry defining healthcare transactions across IPOs, M&A, and biotech licensing advisory, with a primary focus on Greater China. He brings more than 18 years of investment banking experience, having previously worked at China Renaissance and BNP Paribas. Ken holds a Bachelor's degree in Electrical Engineering from Queen's University, Canada.

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's current portfolio includes royalties on more than 35 commercial products, including Vertex's Trikafta and Alyftrek, GSK's Trelegy, Biogen's Tysabri and Spinraza, Roche's Evrysdi, Astellas and Pfizer's Xtandi, Johnson & Johnson's Tremfya, AbbVie and Johnson & Johnson's Imbruvica, Servier's Voranigo, Gilead's Trodelvy, Amgen's Imdelltra and Alnylam's Amvuttra, among others, and 20 development-stage product candidates. For more information, visit www.royaltypharma.com.

Forward-Looking Statements

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Royalty Pharma Appoints Kenneth Sun as Senior Vice President and Head of Asia to Expand Royalty Pharma's Global Platform