Esperion and Daiichi Sankyo Europe Announce $125 Million Amendment to Their Collaboration, Including Resolution of Pending Litigation
January 03 2024 - 7:00AM
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
long-term 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.
About Esperion TherapeuticsAt Esperion, we
discover, develop, and commercialize innovative medicines to help
improve outcomes for patients with or at risk for cardiovascular
and cardiometabolic diseases. The status quo is not meeting the
health needs of millions of people with high cholesterol – that is
why our team of passionate industry leaders is breaking through the
barriers that prevent patients from reaching their goals. Providers
are moving toward reducing LDL-cholesterol levels as low as
possible, as soon as possible; we provide the next steps to help
get patients there. Because when it comes to high cholesterol,
getting to goal is not optional. It is our life’s work. For more
information, visit esperion.com and esperionscience.com and follow
us on X at twitter.com/EsperionInc.
About Daiichi Sankyo Daiichi Sankyo is an
innovative global healthcare company contributing to the
sustainable development of society that discovers, develops, and
delivers new standards of care to enrich the quality of life around
the world. With more than 120 years of experience, Daiichi Sankyo
leverages its world-class science and technology to create new
modalities and innovative medicines for people with cancer,
cardiovascular and other diseases with high unmet medical need. For
more information, please visit www.daiichi-sankyo.eu.
Media Contacts:
For Esperion:
Investors:Alexis Callahaninvestorrelations@esperion.com(406)
539-1762
Media:Tiffany Aldrichcorporateteam@esperion.com(616)
443-8438
For Daiichi Sankyo Europe:
Investor Relations Contact
(Japan):DaiichiSankyoIR@daiichisankyo.co.jp
Dr. Wolfgang Schiessl
(Europe)wolfgang.schiessl@daiichi-sankyo.eu+49 151 1714 7317
Sean Wood (Global / US)swood@webershandwick.com+1 (212)
445-8310
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