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About the company
BioPharma Credit PLC is a United Kingdom-based closed-ended investment company. The Company is a specialist debt investor in the life sciences industry. The Company seeks to provide long-term shareholder returns, principally in the form of sustainable income distributions from exposure to the life sciences industry. It seeks to achieve this objective primarily through investments in debt assets secured by royalties or other cash flows derived from the sales of approved life sciences products. The Company may also invest in equity issued by a life sciences company, acquired directly from the life sciences company or in the secondary market. It will seek to create a diversified portfolio of investments by investing across a range of different forms of debt assets issued by a variety of borrowers. It has two wholly owned subsidiaries: BPCR Limited Partnership and BPCR GP Limited. The Company holds a majority of its investments through its financing subsidiary, BPCR Limited Partnership.
- Revenue in USD (TTM)154.69m
- Net income in USD123.12m
- Incorporated2016
- Employees13.00
- LocationBioPharma Credit PLC51 New North RoadEXETER EX4 4EPUnited KingdomGBR
- Phone+44 13 9247 7503
- Websitehttps://bpcruk.com/#
Profile
| Management group(s) | Pharmakon Advisors L.P. |
|---|---|
| AIC sector | Debt - Direct Lending |
| ISIN | GB00BDGKMY29 |
| Launch date | 27 Mar 2017 |
| Share type | Ordinary Share |
| Structure | Investment Trust |
| Base currency | USD |
Objective
To generate long-term shareholder returns, predominantly in the form of sustainable income distributions from exposure to the life sciences industry. The Company will seek to achieve its investment objective predominantly through direct or indirect exposure to Debt Assets, which include Royalty Investments, Senior Secured Debt, Unsecured Debt and Credit Linked Notes.
Managed by
| Pedro Gonzalez de Cosio, Pablo Legorreta, Martin Friedman |
|---|
Management & contract fees
Annual management fee is 1% of NAV. The performance fee is calculated as 10% of returns, subject to High Watermark and a 6% preferred return hurdle with 50% catch up.
Peer analysis
| Company | Revenue (TTM) | Net income (TTM) |
|---|---|---|
| Baillie Gifford Japan Trust PLC | 180.24m | 168.03m |
| XPS Pensions Group PLC | 336.12m | 35.32m |
| Pacific Horizon Investment Trust PLC | 65.46m | 59.29m |
| Biopharma Credit PLC | 154.69m | 123.12m |
| European Smaller Companies Trust PLC | 139.85m | 122.60m |
| Impax Environmental Markets plc | -43.39m | -62.88m |
| Global Smaller Companies Trust PLC | 80.48m | 69.90m |
| Edinburgh Worldwide Investment Trust plc | 257.03m | 240.96m |
| Baillie Gifford US Growth Trust PLC | 88.27m | 77.08m |
| Capital Gearing Trust plc | 61.09m | 54.72m |
| Cordiant Digital Infrastructure Ltd | 230.93m | 208.66m |
| Molten Ventures PLC | 186.64m | 151.38m |
| Schroder Oriental Income Fund Ltd | 149.07m | 128.64m |
| Oakley Capital Investments Ltd | 100.61m | 75.41m |
| Finsbury Growth & Income Trust PLC | -4.41m | -18.90m |
| Scottish American Investment Company PLC | 28.43m | 13.39m |
Institutional shareholders
| Holder | Shares | % Held |
|---|---|---|
| Newton Investment Management Ltd.as of 31 Dec 2024 | 136.38m | 12.08% |
| Sarasin & Partners LLPas of 31 Dec 2024 | 70.48m | 6.24% |
| M&G Investment Management Ltd.as of 31 Dec 2024 | 67.22m | 5.95% |
| W1m Investment Management Ltd.as of 30 Sep 2025 | 26.86m | 2.38% |
| JPMorgan Chase Bank, NA (Investment Management)as of 01 Dec 2025 | 23.75m | 2.10% |
| City of London Investment Management Co. Ltd.as of 01 Dec 2025 | 21.53m | 1.91% |
| Morgan Stanley Smith Barney LLC (Investment Management)as of 01 Dec 2025 | 16.89m | 1.50% |
| Abrdn Asia Ltd.as of 28 Nov 2025 | 16.54m | 1.47% |
| abrdn, Inc.as of 28 Nov 2025 | 16.16m | 1.43% |
| West Yorkshire Pension Fundas of 01 Dec 2025 | 15.00m | 1.33% |
