Esperion expands partnership with Daiichi Sankyo Group
ANN ARBOR–Esperion Therapeutics (NASDAQ: ESPR), developers of a new class of cholesterol-lowering drugs, announced it has entered into a licensing agreement with Daiichi Sankyo Co. Ltd. providing Daiichi Sankyo with exclusive rights to commercialize bempedoic acid and the bempedoic acid / ezetimibe combination tablet in additional countries around the world.
This agreement expands the existing partnership with Daiichi Sankyo and demonstrates the mutual commitment both organizations share toward bringing novel and convenient, oral, once-daily cardiovascular medicines to patients globally.
Under the terms of the licensing agreement, Esperion will grant Daiichi Sankyo exclusive commercialization rights to bempedoic acid and the bempedoic acid / ezetimibe combination tablet in South Korea, Taiwan, Hong Kong, Thailand, Vietnam, Brazil, Macao, Cambodia and Myanmar. The agreement allows for potential expansion to Saudi Arabia, Kuwait, Oman, the United Arab Emirates, Qatar, Bahrain, Yemen, and Latin American countries. Daiichi Sankyo will be responsible for commercialization in these territories, while Esperion remains responsible for certain development and regulatory activities.
Esperion will receive an upfront cash payment of $30 million, up to $175 million in sales milestone payments, as well as tiered royalties from 5 to 20 percent on net sales in the territory. Esperion has now received $330 million in milestone payments from Daiichi Sankyo group. With this deal, combined milestones from Daiichi Sankyo group now total over $1.1 billion. Esperion still retains full development and commercial rights to the U.S. and other countries not covered in this expanded agreement, including China, Canada, and others.
“Today’s announcement affirms the strength of our relationship with Daiichi Sankyo group and our shared confidence in the increasing global opportunity and unmet need for bempedoic acid,” said Tim M. Mayleben, president and CEO of Esperion. “We will continue to build upon our achievements together with Daiichi Sankyo group, creating additional value for both companies and for patients worldwide. Additionally, the expanded partnership allows Esperion to benefit from the commercial strength of Daiichi Sankyo group in cardiovascular disease in countries in which they have a leadership position and provides Esperion optionality in the remaining ex-U.S. geographies to partner with leading local companies in the future.”
Added Kiminori Nagao, president of ASCA Co. Daiichi Sankyo, which is repsonsible for Asia, Latin America, and Middle East business for the company: “We see significant opportunity for the bempedoic acid franchise globally and are highly encouraged by our initial commercialization success in Europe. Given our strong cardiovascular footprint in the ASCA region, we have the ability to deliver these innovative and convenient medicines to millions of additional patients.”
Esperion’s new anti-cholesterol drug is intended for people who cannot tolerate treatment with current statin drugs due to side effects such as muscle weakness. More at www.esperion.com.