TORONTO, Oct. 3, 2022
/CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) ("DRI" or
"the Trust") today announced that, based on its ongoing review of
its royalty entitlement on Natpara (the "Natpara Royalty"), DRI has
concluded that the issues that led to the 2019 recall of Natpara in
the United States are likely to
remain unresolved for the foreseeable future, while royalties on
European and Rest of World sales are expected to continue in the
near term. There have been no commercial sales of Natpara in
the United States since the
product's recall in 2019.
The Natpara Royalty is paid on global sales of Natpara and is
subject to an aggregate cap on royalty receipts of US$125.0 million, of which US$85.9 million has been collected by DRI and its
predecessor funds as of September 30,
2022. DRI is reviewing its options with respect to the
Natpara Royalty. DRI will provide further updates as they become
available.
About DRI Healthcare
Trust
DRI Healthcare Trust is managed by DRI Capital Inc. ("DRI
Capital"), the pioneer in global pharmaceutical royalty
monetization with a more than 30-year history of accelerating
innovation by providing capital to inventors, academic institutions
and biopharma companies. Since our founding in 1989, DRI Capital
has deployed more than US$2 billion,
acquiring more than 60 royalties on 40-plus drugs, including Eylea,
Spinraza, Zytiga, Remicade, Keytruda and Stelara. DRI Healthcare
Trust's units are listed and trade on the Toronto Stock Exchange in
Canadian dollars under the symbol "DHT.UN" and in U.S. dollars
under the symbol "DHT.U". To learn more, visit
drihealthcaretrust.com or follow us on LinkedIn.
Caution concerning forward-looking
statements
This news release may contain forward-looking information within
the meaning of applicable securities legislation. Forward-looking
information generally can be identified by the use of
forward-looking words such as "expect", "continue", "anticipate",
"intend", "aim", "plan", "believe", "budget", "estimate",
"forecast", "foresee", "close to", "target" or negative versions
thereof and similar expressions. Some of the specific
forward-looking information in this news release may include, among
other things, statements that DRI has concluded that the issues
that led to the 2019 recall of Natpara in the United States are likely to remain
unresolved for the foreseeable future, while royalties on European
and Rest of World sales are expected to continue in the near term.
Forward-looking information is based on a number of assumptions and
is subject to a number of risks and uncertainties, many of which
are beyond the Trust's control that could cause actual results to
differ materially from those that are disclosed in or implied by
such forward-looking information. These risks and uncertainties
include, but are not limited to, those that are disclosed in the
Trust's most recent annual information form. The forward-looking
information in this news release is based on our assumptions
regarding the performance of our royalty interest in Natpara. All
forward-looking information in this news release speaks as of the
date of this news release. The Trust does not undertake to update
any such forward-looking information whether as a result of new
information, future events or otherwise except as required by law.
Additional information about these assumptions and risks and
uncertainties is contained in the Trust's filings with securities
regulators, including its latest annual information form and
Management's Discussion and Analysis. These filings are also
available at the Trust's website at drihealthcaretrust.com.
SOURCE DRI Healthcare Trust