Esperion argues case for milestone from Daiichi Sankyo
Esperion Therapeutics’ (Nasdaq: ESPR) shares plunged by over 60% to $1.64 on Thursday, after it stated in a company filing with Securities and Exchange Commission (SEC) that Daiichi Sankyo (TYO: 4568) Europe has disputed Esperion’s right to receive milestone payments following a clinical trial.
Esperion believes that it remains on track to submit regulatory filings to the Food and Drug Administration and European Medicines Agency in the first half 2023 for bempedoic acid (contained in Nexleol and Nexlizet (bempedoic acid and ezetimibe).
Esperion’s heart pill, which has struggled to gain traction, was due for up to $440 million in milestones from Daiichi following a data readout earlier this month aiming to expand the EU and US labels. However, Daiichi Sankyo does not believe that the data announced in a Securities and Exchange Commission (SEC) filing justify paying any milestone at all.
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