Pursuits
Cystic Fibrosis Foundation Sells Drug Royalties for $3B
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The Cystic Fibrosis Foundation will sell royalties it gets from Vertex Pharmaceuticals Inc. for $3.3 billion to Royalty Pharma, taking a profit from charitable investments made to fight the fatal lung disease.
The Cystic Fibrosis Foundation plans to reinvest the money into new research efforts, said foundation Chief Executive Officer Robert J. Beall.