August 12, 2005

Emory U. Sells Rights to AIDS Drug, Betting on an Immediate Payoff

By GOLDIE BLUMENSTYK

Article: Missed Chances

Emory University took a bit of a gamble when it decided last month to sell its rights to future royalties on anti-AIDS drugs. But with a sure payoff of more than a half-billion dollars, university officials said it seemed like a worthy risk.

Under the terms of the deal, the university received a total of $525-million from two companies, Gilead Sciences Inc. and Royalty Pharma. Gilead is a drug

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