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Biopharma Credit PLC - New York-based life sciences debt investment trust - Company's investment manager, Pharmakon Advisors, notes the announcement made by Pfizer Inc on Wednesday about acquisition of Global Blood Therapeutics for USD5.4 billion. BioPharma had USD132.5 million investment in Global Blood Therapeutics in a senior secured loan which has been prepaid following the acquisition. The senior secured loan was invested through three different tranches. In total the company received USD175.4 million, including USD42.9 million of accrued interest, paydown, prepayment and make-whole fees, realising an internal rate of return of 28%.
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By Chris Dorrell; chrisdorrell@alliancenews.com
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