Unknown Analyst

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Company, which is Royalty Pharma, and it's my pleasure to

To have with me today Marshall Urist, who is the EVP, Executive Vice President and Head of Research and Investments at the company. Let me start with an interesting anecdote because I know I have big shoes to fill with respect to Greg leaving, and he was the one that interviewed you last year, but I covered my first Royalty company actually in the late 1990s before it was taken over. And it's interesting because I cover a couple of them right now,

But you guys have done such an incredible job over the last decade and even more, but while you've been public. And with that, how we'd like to start this conversation is I want you to share your perspective on the outlook for royalty financing right now in the context of the current macro environment.

But also, there's been a few things that have been going on in the market, the way I understand it, in the alt and private credit groups that have acquired some of these royalties and may not want them anymore.

And I'm just curious if that's something you'd look at? Or is the duration simply too short and not of the quality that you're typically focused on?

Marshall Urist
Executive Vice President of Research & Investments

Sure. So great to be here, Doug, and thanks to you and RBC for having us. So the first part of your question was sort of on the outlook for royalty financing. And we are really excited about where things stand today. I think we