Novartis HORIZON trial fails to meet primary endpoint for pelacarsen

NEW YORK, Sept. 04, 2026 /CourierPR/ -- Royalty Pharma plc (Nasdaq: RPRX) today provided an update on Novartis’ Phase 3 HORIZON outcomes trial for pelacarsen, an antisense oligonucleotide designed to treat atherosclerotic cardiovascular disease and elevated lipoprotein(a), or Lp(a). The trial did not meet its primary endpoint of reducing the risk of cardiovascular events, a composite measure including cardiovascular death, non-fatal myocardial infarction, non-fatal stroke, and urgent coronary revascularization requiring hospitalization in the overall study population, compared to placebo. Novartis plans to present the Lp(a) HORIZON trial data at an upcoming medical congress.

Despite the negative outcome for pelacarsen, Royalty Pharma maintains its commitment to its long-term financial targets. The company’s $500 million funding agreement with Ionis Pharmaceuticals, structured to protect its investment, includes the purchase of stable and predictable royalties from Spinraza, with potential upside from pelacarsen. As a result, Royalty Pharma expects to recoup its total investment and earn a modest positive return, despite the failure of pelacarsen.

In January 2023, Royalty Pharma entered into a funding agreement with Ionis, assigning $150 million of value to pelacarsen royalties and $350 million to Spinraza royalties. The agreement stipulates that Royalty Pharma will receive 25% of Ionis’ Spinraza royalty payments through 2027, increasing to 45% of royalties in 2028, on up to $1.5 billion in annual sales. With the HORIZON results, Royalty Pharma does not anticipate making any milestone payments to Ionis. The company’s royalty interest in Spinraza will revert to Ionis after royalty payments reach $550 million, representing a 1.1x return on the total amount funded.

Royalty Pharma continues to focus on its long-term financial goals, aiming to achieve portfolio receipts of $4.7 billion or more by 2030. The company’s portfolio currently includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, GSK’s Trelegy, Roche’s Evrysdi, Johnson & Johnson’s Tremfya, Biogen’s Tysabri and Spinraza, Servier’s Voranigo, AbbVie and Johnson & Johnson’s Imbruvica, Astellas and Pfizer’s Xtandi, Pfizer’s Nurtec ODT, and Gilead’s Trodelvy, as well as 17 development-stage product candidates.

Founded in 1996, Royalty Pharma is the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry. The company collaborates with innovators from academic institutions, research hospitals, and non-profits, as well as small and mid-cap biotechnology companies and leading global pharmaceutical companies. Royalty Pharma’s portfolio of royalties is based on the top-line sales of many of the industry’s leading therapies, and the company funds innovation both directly and indirectly.

While Royalty Pharma’s future performance is subject to various risks and uncertainties, the company remains optimistic about its long-term prospects.