One of Mexico’s billionaires who lives outside of Mexico, Pablo Legorreta continued his track record of closing favorable deals at the helm of Royalty Pharma. One of them is the payment that the company obtained from Pfizer for US$475 million after the health authorities approved the drug Zavspret, a nasal spray against migraine. It is the kind of deal that has made Legorreta a billionaire as Royalty offered the initial developers (Biohaven Pharmaceuticals) to fund the development of Xavspret with US$250 million in exchange for participation in medical and commercial milestones, as well as future rights. This, Royalty says, will be reflected in the company’s balance sheet, which expects to close its cash flow in 2023 at about US$2.95 billion, instead of the initially raised US$2.85 billion.
