Royalty Pharma (RPRX) Research & Development (2019 - 2026)
Royalty Pharma's Research & Development was $97.9 million in Q2 2026, down 67.4% from $300.5 million a year earlier but up 146.0% from the prior quarter.
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Analysis
Royalty Pharma (RPRX) Research & Development (2019 - 2026) Analysis & Trends
On a trailing twelve-month basis, Royalty Pharma's Research & Development was $238.7 million through Jun 30, 2026, down 32.2% year-over-year; for FY2025, it came in at $452 million.
- Research & Development shows a five-year compound annual growth rate of 76.6% (FY2020 to FY2025).
- In earlier years, Research & Development was $2 million in FY2024 (-96.2%), $52 million in FY2023 (-70.6%), $177.11 million in FY2022 (-11.5%) and $200.1 million in FY2021 (+660.8%).
- Quarterly Research & Development has moved between $500,000 (Q1 2023) and $300.5 million (Q2 2025) over five years.
- The best year-over-year quarter for Research & Development over five years was Q3 2023 (growth of 98.0%); the worst was Q1 2023 (a decline of 99.5%).
- Per Business Quant data, RPRX's Research & Development in the three quarters before Q2 2026 was $39.8 million (Q1 2026), $50.5 million (Q4 2025) and $50.5 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Orix | 43.85 Bn | 44.35 Bn | - | - |
| 2 | Rocket Companies | 43.67 Bn | 29.35 Bn | - | - |
| 3 | Royalty Pharma | 33.56 Bn | 33.48 Bn | - | 97.90 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 25.52 Bn | 25.52 Bn | - | - |
| 5 | Synchrony Financial | 23.24 Bn | -44.73 Bn | - | - |
| 6 | Affirm Holdings | 22.66 Bn | 16.35 Bn | - | - |
| 7 | Royal Gold | 20.35 Bn | 19.57 Bn | 390.45 Mn | - |
| 8 | Annaly Capital Management | 15.27 Bn | 6.37 Bn | - | - |
| 9 | Ares Capital | 13.74 Bn | 11.17 Bn | - | - |
| 10 | Federal Home Loan Mortgage | 12.68 Bn | -6.06 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 97.90 Mn |
| Mar 31, 2026 | 39.80 Mn |
| Dec 31, 2025 | 50.50 Mn |
| Sep 30, 2025 | 50.50 Mn |
| Jun 30, 2025 | 300.50 Mn |
| Mar 31, 2025 | 50.50 Mn |
| Dec 31, 2024 | 500,000.00 |
| Sep 30, 2024 | 500,000.00 |
| Jun 30, 2024 | 500,000.00 |
| Mar 31, 2024 | 500,000.00 |
| Dec 31, 2023 | 500,000.00 |
| Sep 30, 2023 | 50.50 Mn |
| Jun 30, 2023 | 500,000.00 |
| Mar 31, 2023 | 500,000.00 |
| Dec 31, 2022 | 50.50 Mn |
| Sep 30, 2022 | 25.50 Mn |
| Jun 30, 2022 | 606,000.00 |
| Mar 31, 2022 | 100.50 Mn |
| Dec 31, 2021 | 103.80 Mn |
| Sep 30, 2021 | 90.50 Mn |
API Access
Royalty Pharma Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=RPRX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "RPRX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=RPRX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();