Esperion and Daiichi Sankyo Europe Announce $125 Million Amendment to Their Collaboration, Including Resolution of Pending Litigation

Esperion Therapeutics, Inc. (NASDAQ: ESPR) and Daiichi Sankyo Europe GmbH (DSE) the European
headquarter organization of the Japanese pharmaceutical company Daiichi Sankyo Co., Ltd. (TSE:
4568), announced today a $125 million amendment to their collaboration, which includes an
amicable resolution to their commercial dispute and certain other adjustments to enhance the longterm value of their products.
DSE has agreed to pay Esperion $100 million in mid-January ahead of an anticipated Type II(a)
variation approval by the European Medicines Agency (EMA) for NILEMDO® (bempedoic acid)
Tablet and NUSTENDI®
(bempedoic acid and ezetimibe) Tablet. DSE will make an additional $25
million payment to Esperion in the calendar quarter immediately following EMA’s decision on the
pending application. The legal action pending in the United States District Court for the Southern
District of New York will be dismissed.
The parties also agreed, as part of the resolution:

  • for Esperion to transition to DSE manufacturing and supply responsibilities in Europe and
    other territories, resulting in significant cost savings and efficiencies for both companies.
  • to expand their collaboration in Europe and other territories, to include the potential
    development and commercialization of a triple formulation product comprising bempedoic
    acid, ezetimibe and a statin, which could represent significant long-term value for the
    collaboration.
  • for DSE to now lead all regulatory communications with the EMA regarding the pending
    applications.
    “We are pleased that this settlement creates value for Esperion today through cash payments and
    includes additional terms that will continue creating value for both companies going forward.
    Importantly, today’s settlement allows Esperion and DSE to focus on the business at hand –
    delivering life-saving drug therapies to millions with high cholesterol,” said Sheldon Koenig,
    Esperion’s President and CEO. “Together, we are committed to making bempedoic acid a
    blockbuster franchise worldwide, based on the differentiating profiles of our products.”
    “This is a positive resolution for patients. We look forward to continuing to apply our combined
    strengths around the world to bring innovative pharmaceutical products to patients with
    cardiovascular disease, the greatest cause of death and disability globally,” said Oliver Appelhans,
    Head of the Specialty Business Unit of Daiichi Sankyo Europe.
    Since 2019, Esperion and DSE have worked together to bring bempedoic acid to the eligible
    patient population and unlock its potential for cardiovascular risk reduction. The partnership continues to grow, with DSE recently gaining approvals for bempedoic acid in the Netherlands, Slovakia, and Spain.

Source link