DRI Healthcare Reports Third Quarter 2026 Results
- Normalized Total Cash Receipts and Adjusted EBITDA each grew 9% to $47.5 million and $40.0 million, respectively, with an 84% Adjusted EBITDA margin
- DRI Healthcare acquired royalty participation rights in Juvmo (tavapadon) for a purchase price of $316M
- DRI Healthcare exercised its contractual put option on Ekterly for a total net repurchase price of $178.2M
- Adjusted EBITDA for the fiscal year 2026 expected to exceed the high end of the previously guided range of $157 million to $162 million
TORONTO, Nov. 4, 2026 /CNW/ -- DRI Healthcare Trust (TSX: DHT.UN) (TSX:DHT.U) ("DRI Healthcare") today announced its financial results for the quarter ended September 30, 2026. DRI Healthcare's third quarter 2026 financial statements and Management's Discussion & Analysis ("MD&A") have been filed on SEDAR+ (www.sedarplus.ca). All dollar amounts are expressed in U.S. dollars unless otherwise indicated.
"The third quarter was highlighted by our newest investment in Juvmo (tavapadon), marking DRI Healthcare's largest transaction to date," said Ali Hedayat, Chief Executive Officer of DRI Healthcare. "The strength of our portfolio reinforces our confidence in our long-term outlook, and we now believe we are tracking above the upper end of our previously communicated aspirational targets for the 2026–2030 period. The Juvmo investment demonstrates our ability to strategically redeploy capital into high-quality assets following the Ekterly disposition, reinforcing our disciplined approach to capital allocation and long-term growth."
Q3 Highlights
- Total income of $46.9 million;
- Normalized Total Cash Receipts of $47.5 million1;
- Adjusted EBITDA of $40.0 million1;
- Comprehensive earnings of $49.7 million;
- Adjusted Cash Earnings per Unit of $0.53 (basic and diluted)1,2;
- Acquired a royalty interest in the U.S. net sales of Juvmo (tavapadon) for a purchase price of $316 million;
- Recorded a non-cash impairment of $14.6 million on the Zejula royalty asset;
- Exercised its contractual put option (the "Put Option") with respect to its royalty participation right in Ekterly, for a total net repurchase price of $178.2 million;
- Repurchased 146,307 Units under its current Normal Course Issuer Bid plan ("NCIB Plan") at an average price of $12.42, totaling $1.8 million; and
- Paid a quarterly cash distribution of $0.11 per Unit on October 20, 2026 to Unitholders of record on September 30, 2026.
____________ |
1 Normalized Total Cash Receipts and Adjusted EBITDA are non-GAAP financial measures. Adjusted Cash Earnings (Loss) per Unit is a non-GAAP ratio. These measures are not standardized measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. The reconciliation of these measures can be found later in this news release and in DRI Healthcare's third quarter 2026 MD&A. |
2 The weighted average number of basic and diluted Units for the purposes of calculating Earnings (Loss) per Unit for the three months ended September 30, 2026 were 54,982,140 Units and 55,251,123 Units, respectively. |
Subsequent to Quarter End
- Declared a quarterly distribution of $0.11 per Unit in the fourth quarter of 2026, payable on January 20, 2027 to Unitholders of record on December 31, 2026.
Financial Highlights
Three months ended | Nine months ended | |||
(thousands of U.S. dollars, except per Unit amounts) | September 30, | September 30, | September 30, | September 30, |
Total income | 46,890 | 48,745 | 145,611 | 136,903 |
Amortization of intangible royalty assets | 27,565 | 26,326 | 77,977 | 75,822 |
Impairment of intangible royalty assets | 14,613 | 13,691 | 14,613 | 13,691 |
Management fees | -- | -- | -- | 6,733 |
Performance fees | -- | -- | -- | 533 |
Other expenses | 16,988 | 18,828 | 49,592 | 50,629 |
Net gain on disposition of royalty assets | 59,883 | -- | 59,883 | -- |
Gain (loss) on debt refinancing | -- | -- | (9,794) | (971) |
Net unrealized gain (loss) on derivative instruments | 359 | -- | (1,153) | -- |
Net unrealized gain (loss) on FX remeasurement | (311) | -- | 2,956 | -- |
Termination fee | -- | (48,000) | -- | (48,000) |
Net earnings (loss) before tax | 47,655 | (58,100) | 55,321 | (59,476) |
Income tax recovery (expense) | (1,150) | 240 | (3,778) | 240 |
Net earnings (loss) | 46,505 | (57,860) | 51,543 | (59,236) |
Net unrealized gain (loss) on derivative instruments | 3,175 | 184 | 6,132 | (972) |
Comprehensive earnings (loss) | 49,680 | (57,676) | 57,675 | (60,208) |
Net earnings (loss) per Unit – basic | 0.85 | (1.05) | 0.94 | (1.06) |
Net earnings (loss) per Unit – diluted | 0.84 | (1.05) | 0.93 | (1.06) |
Normalized Total Cash Receipts1 | 47,467 | 43,645 | 152,278 | 145,787 |
Adjusted EBITDA1 | 40,014 | 36,725 | 135,329 | 118,756 |
Adjusted EBITDA Margin1 | 84 % | 84 % | 89 % | 81 % |
Adjusted Cash Earnings per Unit – basic1 | 0.53 | 0.55 | 1.77 | 1.49 |
Adjusted Cash Earnings per Unit – diluted1 | 0.53 | 0.55 | 1.77 | 1.49 |
Weighted average number of Units – basic | 54,982,140 | 55,351,226 | 55,009,341 | 55,944,375 |
Weighted average number of Units – diluted | 55,251,123 | 55,351,226 | 55,238,533 | 55,944,375 |
Asset Performance
As at September 30, 2026, DRI Healthcare's portfolio included 29 royalty streams on 22 products that address a variety of therapeutic areas, such as oncology, neurology, ophthalmology, endocrinology, hematology, dermatology, lysosomal storage disorders ("LSD") and immunology. On September 30, 2026, the intangible royalty asset portfolio had a book value, net of accumulated amortization and impairments, of $887.6 million, which during the three and nine months ended September 30, 2026 generated Normalized Total Cash Receipts1 of $47.5 million and $152.3 million, respectively, and royalty income of $46.1 million and $140.9 million, respectively. On September 30, 2026, the financial royalty assets totaled $136.0 million, which during the three and nine months ended September 30, 2026 generated financial royalty income of $0.6 million and $4.0 million, respectively.
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1 Normalized Total Cash Receipts and Adjusted EBITDA are non-GAAP financial measures. Adjusted EBITDA Margin and Adjusted Cash Earnings (Loss) per Unit are non-GAAP ratios. These measures and ratios are not standardized measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. The reconciliation of these measures can be found later in this news release and in DRI Healthcare's third quarter 2026 MD&A. |
Portfolio
(thousands of U.S. dollars) | Cash Receipts | |||||
Three months ended | Nine months ended | |||||
Royalty Asset | Therapeutic Area | Primary Marketer(s) | September 30, | September 30, | September 30, | September 30, |
Casgevy | Hematology | Vertex Pharmaceuticals | -- | -- | 5,000 | 5,000 |
Ekterly1 | Immunology | KalVista | 1,977 | -- | 5,969 | -- |
Empaveli/Syfovre | Hematology/Ophthalmology | Apellis, Sobi | 2,213 | 1,715 | 3,524 | 2,987 |
Eylea I | Ophthalmology | Regeneron, Bayer, Santen | 1,015 | 1,245 | 3,154 | 3,925 |
Eylea II | Ophthalmology | Regeneron, Bayer, Santen | 211 | 268 | 664 | 847 |
Omidria | Ophthalmology | Rayner Surgical | 9,168 | 8,314 | 26,199 | 25,301 |
Oracea | Dermatology | Galderma | 992 | 1,175 | 2,843 | 3,755 |
Orserdu I | Oncology | Menarini | 8,655 | 8,110 | 28,534 | 22,397 |
Orserdu I – milestone | Oncology | Menarini | -- | -- | 5,000 | 633 |
Orserdu II | Oncology | Menarini | 8,983 | 8,769 | 27,564 | 32,575 |
Orserdu II – milestone | Oncology | Menarini | -- | -- | -- | 5,523 |
Rydapt | Oncology | Novartis | 623 | 813 | 1,979 | 2,749 |
Spinraza | Neurology | Biogen | 4,179 | 3,727 | 11,530 | 11,470 |
Vonjo I | Hematology | Sobi | 3,171 | 2,890 | 9,159 | 8,538 |
Vonjo II | Hematology | Sobi | 675 | 623 | 1,977 | 1,974 |
Xenpozyme | Lysosomal Storage Disorder | Sanofi | -- | -- | 2,879 | 1,913 |
Xenpozyme - milestone | Lysosomal Storage Disorder | Sanofi | -- | -- | 450 | -- |
Xolair | Immunology | Roche, Novartis | 4,676 | 3,808 | 9,873 | 8,343 |
Zejula | Oncology | GSK | 509 | 1,228 | 2,519 | 3,280 |
Zytiga | Oncology | Johnson & Johnson | -- | -- | 1,762 | 2,230 |
Other Products2 | Various | Various | 420 | 960 | 1,699 | 2,347 |
Total Cash Royalty Receipts3 | 47,467 | 43,645 | 152,278 | 145,787 | ||
Proceeds from disposition of royalty assets1 | 176,210 | -- | 176,210 | -- | ||
Total Cash Receipts3 | 223,677 | 43,645 | 328,488 | 145,787 | ||
Proceeds from disposition of royalty assets1 | (176,210) | -- | (176,210) | -- | ||
Normalized Total Cash Receipts3 | 47,467 | 43,645 | 152,278 | 145,787 | ||
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1 DRI Healthcare received total proceeds of $178.2 million in relation to the disposition of Ekterly, as described on page 5 of DRI Healthcare's third quarter 2026 MD&A. $2.0 million is related to cash royalty receipts and $176.2 million is related to the disposition of the Ekterly royalty asset. Disposition of royalty assets are not expected to recur in the normal course of operations, as such, proceeds from disposition are not included in Normalized Total Cash Receipts. |
2 Other Products includes royalty income from certain other intangible royalty assets as well as intangible royalty assets which are fully amortized and, where applicable, the entitlements to which have generally expired. Comparative figures for royalty asset Natpara are included in Other Products. |
3 Total Cash Royalty Receipts, Total Cash Receipts and Normalized Total Cash Receipts are non-GAAP financial measures. These measures are not standardized measures under IFRS and might not be comparable to similar financial measures disclosed by other issuers. The reconciliation of these measures can be found later in this news release and in DRI Healthcare's third quarter 2026 MD&A. |
Liquidity and Capital
As at September 30, 2026, DRI Healthcare had cash and cash equivalents of $41.1 million.
As at September 30, 2026, DRI Healthcare's long-term debt of $571.0 million was composed of (i) $226.3 million on the long-term portion of its credit facility; (ii) $31.4 million of preferred securities; (iii) $65.7 million convertible debentures; and (iv) $247.5 million on its senior notes.
As at September 30, 2026, DRI Healthcare had 54,861,461 Units issued and outstanding.
Distributions
On August 7, 2026, the board of trustees of DRI Healthcare declared a quarterly cash distribution of $0.11 per Unit for the third quarter of 2026, which was paid on October 20, 2026 to Unitholders of record as of September 30, 2026.
Today, the board of trustees of DRI Healthcare declared a quarterly cash distribution of $0.11 per Unit for the fourth quarter of 2026, payable on January 20, 2027, to Unitholders of record as of December 31, 2026.
Juvmo (tavapadon) Royalty Transaction
On September 29, 2026, DRI Healthcare completed the acquisition of royalty participation rights in the U.S. net sales of Juvmo (tavapadon) from funds managed by Bain Capital and NovaQuest Capital Management for a purchase price of $316 million. The transaction entitles DRI Healthcare to tiered royalties on annual U.S. net sales of Juvmo, certain sales-based milestone payments, and four annual fixed payments of approximately $23.4 million each, with aggregate receipts subject to a contractual cap of $437.5 million. The purchase price was funded through a combination of cash on hand and borrowings under the credit facility. Royalty receipts will be collected quarterly on a one-quarter lag, with the first receipt expected in the quarter following the first commercial sale of Juvmo in the U.S.
Ekterly Disposition
On July 6, 2026, DRI Healthcare exercised its Put Option with respect to its royalty participation right in Ekterly, for a total net repurchase price of $178.2 million. The Put Option has been exercised following the acquisition of KalVista Pharmaceuticals, Inc. by Chiesi Group on June 11, 2026. On August 7, 2026, the Put Price payment was received in accordance with the terms of the royalty agreement and upon receipt, DRI Healthcare ceased to be entitled to any royalty participation rights in Ekterly and is no longer liable for the potential sales-based milestone payment to KalVista.
Lumvoa and elegrobart Royalty Transaction
On June 26, 2026, the FDA approved Lumvoa for the treatment of thyroid eye disease ("TED"). In connection with this approval, DRI Healthcare recognized a milestone payable of $75 million to Viridian during the nine months ended September 30, 2026, which, together with $40 million of pre-specified clinical milestones relating to elegrobart that were not achieved, reduced DRI Healthcare's maximum remaining potential milestone obligation to $130 million. The milestone payment was funded using cash on hand and borrowings under the credit facility on July 10, 2026.
Third Quarter 2026 Conference Call & Webcast
As previously announced, management will hold a conference call on Thursday, November 5, 2026 at 8:00 a.m. (ET) to review DRI Healthcare's third quarter 2026 results. Interested parties can join the call by dialing 1-888-699-1199 or 416-945-7677 approximately 15 minutes prior to the call to secure a line.
A live webcast of the conference call, including a slide presentation, will be available at https://app.webinar.net/p6g9nGeZAKq. Please connect at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be required to join the webcast. The webcast will be archived on DRI Healthcare's website at drihealthcare.com/investors following the conference call date.
Non-GAAP Financial Measures
The reconciliations of non-GAAP financial measures and non-GAAP ratios for the three and nine months ended September 30, 2026 and September 30, 2025 to the most directly comparable measures calculated in accordance with IFRS are presented below.
Total Cash Receipts, Normalized Total Cash Receipts and Total Cash Royalty Receipts
Total Cash Receipts refers to Total Cash Royalty Receipts plus cash receipts from all products. Total Cash Receipts includes cash receipts from interest as well as non-recurring cash receipts.
Total Cash Royalty Receipts refers to aggregate cash royalty receipts and milestone royalty receipts from our portfolio of royalty assets and forms part of Total Cash Receipts. Because of the lag between when we record royalty income and receive the corresponding cash payments on our royalties and milestones, we believe Total Cash Receipts and Total Cash Royalty Receipts are useful measures when evaluating our operations, as they represent actual cash generated in respect of all royalty assets held during a period. We also present Normalized Total Cash Receipts, which refers to Total Cash Receipts adjusted to remove cash receipts that are not expected to recur in the normal course of our operations. We believe that Normalized Total Cash Receipts will assist readers in evaluating the period-over-period performance of our royalty portfolio since Normalized Total Cash Receipts only includes cash receipts generated by royalties and other amounts payable pursuant to the terms of our royalty assets. For the three and nine months ended September 30, 2026, Total Cash Receipts were adjusted for the proceeds from disposition of the Ekterly royalty asset, as described on page 5 of DRI Healthcare's third quarter 2026 MD&A, to calculate Normalized Total Cash Receipts.
Three months ended | Nine months ended | |||
(thousands of U.S. dollars) | September 30, | September 30, | September 30, | September 30, |
Total income | 46,890 | 48,745 | 145,611 | 136,903 |
[−] Other interest income | (190) | (253) | (601) | (907) |
[+] Net (gain) loss on marketable securities | -- | (435) | (168) | (1,855) |
[+] Royalties receivable, beginning of period | 54,723 | 49,647 | 59,708 | 62,362 |
[−] Royalties receivable, end of period | (53,309) | (52,886) | (53,309) | (52,886) |
[+] Financial royalty assets, beginning of period | 55,592 | 54,184 | 57,276 | 57,527 |
[+] Financial royalty assets, acquired during period1 | 79,725 | -- | 79,725 | -- |
[−] Financial royalty assets, end of period | (135,964) | (55,357) | (135,964) | (55,357) |
[+] Proceeds from disposition of royalty assets2 | 176,210 | -- | 176,210 | -- |
[=] Total Cash Receipts | 223,677 | 43,645 | 328,488 | 145,787 |
[-] Proceeds from disposition of royalty assets2 | (176,210) | -- | (176,210) | -- |
[=] Total Cash Royalty Receipts and Normalized Total Cash Receipts | 47,467 | 43,645 | 152,278 | 145,787 |
____________ |
1 Financial royalty assets acquired during the period relates to the Juvmo (tavapadon) transaction, as described on page 4 of DRI Healthcare's third quarter 2026 MD&A. |
2 DRI Healthcare exercised its Put Option in its royalty interest in the worldwide sales of Ekterly on July 6, 2026, as described on page 5 of DRI Healthcare's third quarter 2026 MD&A. The proceeds from disposition of the Ekterly royalty asset represents cash received by DRI Healthcare in the quarter that is not expected to recur in the normal course of operations. As such, this item is not included in Normalized Total Cash Receipts. |
Adjusted EBITDA and Adjusted EBITDA Margin
We believe Adjusted EBITDA provides meaningful information about our operating cash flows as it eliminates the effects of other noncash expenses and accruals and income and expenses not expected to recur that have been recorded on the interim condensed consolidated statements of net earnings (loss) and comprehensive earnings (loss). We refer to EBITDA when reconciling our net earnings (loss) and comprehensive earnings (loss) to Adjusted EBITDA, but we do not use EBITDA as a measure of our performance.
The reconciliation of Adjusted EBITDA to its most directly comparable measures calculated in accordance with IFRS Accounting Standards as issued by the IASB is presented below.
Three months ended | Nine months ended | |||
(thousands of U.S. dollars) | September 30, | September 30, | September 30, | September 30, |
Comprehensive earnings (loss) | 49,680 | (57,676) | 57,675 | (60,208) |
[+] Amortization of intangible royalty assets | 27,565 | 26,326 | 77,977 | 75,822 |
[+] Impairment of intangible royalty assets | 14,613 | 13,691 | 14,613 | 13,691 |
[+] Depreciation of fixed assets and other intangible assets1 | 119 | 136 | 296 | 136 |
[+] Income tax expense (recovery) | 1,150 | (240) | 3,778 | (240) |
[−] Other interest income | (190) | (253) | (601) | (907) |
[+] Interest expense | 8,496 | 10,252 | 28,158 | 28,887 |
[=] EBITDA | 101,433 | (7,764) | 181,896 | 57,181 |
[+] Royalties receivable, beginning of period | 54,723 | 49,647 | 59,708 | 62,362 |
[−] Royalties receivable, end of period | (53,309) | (52,886) | (53,309) | (52,886) |
[−] Performance fees payable, beginning of period | -- | -- | -- | (1,665) |
[+] Performance fees payable, end of period | -- | -- | -- | -- |
[+] Financial royalty assets, beginning of period | 55,592 | 54,184 | 57,276 | 57,527 |
[+] Financial royalty assets, acquired during period2 | 79,725 | -- | 79,725 | -- |
[−] Financial royalty assets, end of period | (135,964) | (55,357) | (135,964) | (55,357) |
[+] Unrealized (gain) loss on marketable securities3 | -- | (435) | 1,261 | (1,855) |
[+] Unit-based compensation | 577 | 1,150 | 1,850 | 2,580 |
[+] Board of trustees' unit-based compensation4 | 343 | 370 | 910 | 926 |
[+] (Gain) loss on debt refinancing | -- | -- | 9,794 | 971 |
[+] Termination fee5 | -- | 48,000 | -- | 48,000 |
[–] Net (gain) loss on disposition of royalty assets6 | (59,883) | -- | (59,883) | -- |
[+] Net (gain) loss on foreign exchange remeasurement | 311 | -- | (2,956) | -- |
[+] Net unrealized (gain) loss on derivative instruments | (3,534) | (184) | (4,979) | 972 |
[=] Adjusted EBITDA | 40,014 | 36,725 | 135,329 | 118,756 |
[÷] Normalized Total Cash Receipts | 47,467 | 43,645 | 152,278 | 145,787 |
[=] Adjusted EBITDA Margin | 84 % | 84 % | 89 % | 81 % |
____________ |
1 Included in general and administrative expenses are non-cash expenses related to the depreciation of fixed assets and amortization of other intangible assets. |
2 Financial royalty assets acquired during the period relates to the Juvmo (tavapadon) transaction, as described on page 4 of DRI Healthcare's third quarter 2026 MD&A. |
3 Unrealized gain (loss) on marketable securities is related to the changes in fair value of the marketable securities prior to realizing gains/losses upon disposition. |
4 Certain members of the board of trustees of DRI Healthcare elected to be compensated fully or partially in Deferred Units ("DUs") under DRI Healthcare's Omnibus Equity Incentive Plan, as described on page 13 of DRI Healthcare's third quarter 2026 MD&A. |
5 For the three and nine months ended September 30, 2025 DRI Healthcare paid a termination fee as part of the internalization of its former external manager, as described further on page 2 of DRI Healthcare's third quarter 2026 MD&A. |
6 During the three and nine months ended September 30, 2026, DRI Healthcare exercised its Put Option on its royalty interest in Ekterly, as described on page 5 of DRI Healthcare's third quarter 2026 MD&A. |
Adjusted Cash Earnings per Unit
We believe that Adjusted Cash Earnings per Unit provides meaningful information about our performance as it provides a measure of the cash generated by our assets on a per Unit basis, excluding cash earnings that are not expected to recur.
The calculation of Adjusted Cash Earnings per Unit is presented below.
Three months ended | Nine months ended | |||
(thousands of U.S. dollars, except per Unit amounts) | September 30, | September 30, | September 30, | September 30, |
Comprehensive earnings (loss) | 49,680 | (57,676) | 57,675 | (60,208) |
[+] Amortization of intangible royalty assets | 27,565 | 26,326 | 77,977 | 75,822 |
[+] Depreciation of fixed assets and other intangible assets1 | 119 | 136 | 296 | 136 |
[+] Impairment of intangible royalty assets | 14,613 | 13,691 | 14,613 | 13,691 |
[+] Unrealized (gain) loss on marketable securities2 | -- | (435) | 1,261 | (1,855) |
[+] Unit-based compensation | 577 | 1,150 | 1,850 | 2,580 |
[+] Board of trustees' unit-based compensation3 | 343 | 370 | 910 | 926 |
[−] Financial royalty income | (647) | (1,173) | (3,963) | (2,830) |
[+] Cash receipts on financial royalty assets | -- | -- | 5,000 | 5,000 |
[+] (Gain) loss on debt refinancing | -- | -- | 9,794 | 971 |
[+] Termination fee4 | -- | 48,000 | -- | 48,000 |
[+] Net (gain) loss on disposition of royalty assets5 | (59,883) | -- | (59,883) | -- |
[+] Net (gain) loss on foreign exchange remeasurement | 311 | -- | (2,956) | -- |
[+] Net unrealized (gain) loss on derivative instruments | (3,534) | (184) | (4,979) | 972 |
[=] Adjusted Cash Earnings (Loss) | 29,144 | 30,205 | 97,595 | 83,205 |
Adjusted Cash Earnings (Loss) per Unit – basic | 0.53 | 0.55 | 1.77 | 1.49 |
Adjusted Cash Earnings (Loss) per Unit – diluted | 0.53 | 0.55 | 1.77 | 1.49 |
Weighted average number of Units – basic | 54,982,140 | 55,351,226 | 55,009,341 | 55,944,375 |
Weighted average number of Units – diluted | 55,251,123 | 55,351,226 | 55,238,533 | 55,944,375 |
___________ |
1 Included in general and administrative expenses are non-cash expenses related to the depreciation of fixed assets and amortization of other intangible assets. |
2 Unrealized gain (loss) on marketable securities is related to the changes in fair value of the marketable securities prior to realizing gains/losses upon disposition. |
3 Certain members of the board of trustees of DRI Healthcare elected to be compensated fully or partially in DUs under DRI Healthcare's Omnibus Equity Incentive Plan, as described on page 13 of DRI Healthcare's third quarter 2026 MD&A. |
4 For the three and nine months ended September 30, 2025 DRI Healthcare paid a termination fee as part of the internalization of its former external manager, as described further on page 2 of DRI Healthcare's third quarter 2026 MD&A. |
5 During the three and nine months ended September 30, 2026, DRI Healthcare exercised its Put Option on its royalty interest in Ekterly, as described on page 5 of DRI Healthcare's third quarter 2026 MD&A. The net gain recognized on the disposition of the Ekterly royalty asset is an amount that is not expected to recur and is not included in Adjusted Cash Earnings. |
About DRI Healthcare
DRI Healthcare is a pioneer in global pharmaceutical royalty monetization. Since our founding in 1989, we have deployed more than $3.0 billion, acquiring more than 75 royalties on 50-plus drugs, including Eylea, Keytruda, Juvmo (tavapadon), Lumvoa, Orserdu, Remicade, Spinraza, Stelara, Vonjo and Zytiga. DRI Healthcare'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 drihealthcare.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 can generally be identified by the use of 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, the potential for commercialization of Juvmo (tavapadon) and future U.S. net sales; the potential receipt by DRI Healthcare of royalties, milestone payments and fixed payments in respect of Juvmo (tavapadon), the Trust's expectations as it relates to Adjusted EBITDA for fiscal year end 2026, DRI Healthcare's ability to execute on its strategy, the potential and timing of royalty payments and prospects for the business, and the anticipated royalty income and anticipated sales of the products underlying such royalties. 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 DRI Healthcare'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 risks and uncertainties that are disclosed in DRI Healthcare's most recent annual information form and under "Risk Factors" in DRI Healthcare's Management's Discussion and Analysis. The anticipated royalty terms for products in our portfolio may be shorter than the period of patent protection for the applicable product, depending on many factors, including the entry of generic drugs into the marketplace and competition, all of which are outside our control. No assurance can be given that these are all the factors that could cause actual results to vary materially from the forward-looking statements in this news release. You should not put undue reliance on forward-looking statements. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do occur, the actual results, performance or achievements of DRI Healthcare could differ materially from the results expressed in, or implied by, any forward-looking statements. Certain assumptions underlying the forward-looking information in this news release include: DRI Healthcare's assumptions regarding demand and growth in pharmaceutical sales, R&D and opportunities for royalty investing; the competitive environment in which DRI Healthcare operates; DRI Healthcare's ability to implement its growth strategies; DRI Healthcare's ability to obtain financing and maintain its existing financing on acceptable terms; DRI Healthcare's ability to maintain good business relationships with marketers and other industry partners; timely receipt of cash royalty receipts; expectations regarding the duration of royalties; DRI Healthcare's ability to keep pace with changing consumer preferences; the absence of material adverse changes in DRI Healthcare's industry or the global economy; currency exchange and interest rates; the impact of competition; the changes and trends in DRI Healthcare's industry or the global economy; and stability in laws, rules, regulations and global standards in the pharmaceutical industry. All forward-looking information in this news release speaks as of the date of this news release. DRI Healthcare 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 DRI Healthcare's filings with securities regulators, including its latest annual information form and Management's Discussion and Analysis. These filings are also available at DRI Healthcare's website at drihealthcare.com/investors.
For further information, please contact:
Katherine Rebejko
Head of Investor Relations
[email protected]
SOURCE DRI Healthcare Trust
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