Esperion Therapeutics Inc. will grant Daiichi Sankyo Europe GmbH the rights to commercialize two of its cholesterol drugs in certain European countries for an up-front payment of $150 million.
Under the agreement, Daiichi Sankyo will pay Esperion another $150 million after the first commercial sales of the products in the region.
Ann Arbor, Mich.-based Esperion agreed to grant the rights to its low-density lipoprotein cholesterol, or LDL-C, drugs: the bempedoic acid pill and bempedoic acid-ezetimibe combination pill. The company recently completed two successful clinical trials for the medications.
Esperion will file a new drug application with the U.S. Food and Drug Administration for bempedoic acid and its bempedoic acid-ezetimibe combination pill for LDL-C lowering indications in the first quarter of 2019. Meanwhile, the company plans to seek European approval for the drugs in the second quarter, with approval expected in the first half of 2020.
Esperion Therapeutics is a lipid management company, which focuses on developing and commercializing oral therapies to treat elevated LDL-C.