Moody's: Royalty Pharma stable

Moody's Investors Service said Royalty Pharma's purchase of an interest in earnouts related to experimental multiple sclerosis drug BG-12 is credit-positive.

The two rated entities of Royalty Pharma, RPI Finance Trust and RP Select Finance Trust, are rated Baa2 with stable rating outlooks.

"Strong sales results from BG-12, currently awaiting regulatory approval in both the US and Europe, should result in substantial cash flows to Royalty Pharma between 2015 and 2020," said Michael Levesque, a Moody's senior vice president, in a news release.

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