Esperion strikes deals that add $80 million to cash pile
Esperion strikes deals that add $80 million to cash pile
Esperion markets one of its approved cholesterol drugs as Nexletol in the U.S.
Two new cash-generating deals were announced Monday by drugmaker Esperion Therapeutics Inc. as it works to commercialize its cholesterol-lowering drugs around the world.
The Ann Arbor-based cholesterol-focused biotechnology company said it had reached a deal with Japanese pharma firm Daiichi Sankyo Company Ltd. to distribute its drugs in several countries in Asia with possible expansion to countries in the Middle East and Latin America.
As part of the deal, 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, according to a news release.