Meet the Pharma Company That Just Had a Bigger IPO Than Moderna's

Moderna (NASDAQ: MRNA) set the record for the biggest initial public offering (IPO) in biotech history on Dec. 6, 2018. The biotech raised over $600 million. But while Moderna's IPO was the biggest ever for a biotech, it wasn't the biggest one in the biopharmaceutical industry. That honor belongs to animal health company Zoetis, which conducted an IPO raising $2.2 billion on Jan. 31, 2013 after being spun off from Pfizer. 

And now there's another biopharmaceutical IPO that's even bigger than Moderna's. Royalty Pharma (NASDAQ: RPRX) went public on June 16, 2020. The $2.18 billion IPO became the second-largest biopharmaceutical IPO ever and the biggest IPO of 2020 so far. Here's why investors flocked to the drugmaker that made an even bigger initial splash than widely followed Moderna.

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Source Fool.com