Esperion and Daiichi Sankyo Europe Announce $125 Million Amendment to Their Collaboration, Including Resolution of Pending Litigation
03 January 2024 - 11:00PM
Business Wire
– Near term payment to Esperion of $100 million
plus $25 million in calendar quarter following EMA’s expected
decision on Type II(a) variation approval of NILEMDO® (bempedoic
acid) Tablet and NUSTENDI® (bempedoic acid and ezetimibe) Tablet
–
– Amendment also includes transfer of certain
manufacturing and supply rights to DSE and expansion of
collaboration in Europe and other territories –
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 Therapeutics
At 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240103960094/en/
Media: For Esperion: Investors: Alexis Callahan
investorrelations@esperion.com (406) 539-1762
Media: Tiffany Aldrich corporateteam@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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