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Esperion (ESPR) Settles Milestone Dispute With Daiichi Sankyo
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Esperion (ESPR - Free Report) announced that it has signed an amendment to its existing collaboration with Daiichi Sankyo Europe (DSE), which is valued at $125 million.
One of the terms of this agreement also involves an ‘amicable resolution’ to a commercial dispute that started between the companies last year over a milestone payment.
Per the terms of settlement between the two companies, Daiichi will pay $100 million to Esperion in the coming weeks prior to the label expansion for their bempedoic acid products Nilemdo and Nustendi in reducing cardiovascular (CV) risk among patients with or at high risk for atherosclerotic cardiovascular disease (ASCVD). On receipt of the EMA’s approval, Esperion is entitled to receive a further payment of $25 million from DSE. A final decision is expected by first-half 2024.
As part of the resolution, Esperion will shift manufacturing and supply responsibilities to Daiichi in Europe and other territories. This is expected to yield significant cost savings and efficiencies for both companies. DSE will also lead all regulatory activities with the EMA regarding the pending applications.
The companies have also expanded their partnerships to develop and market a triple formulation product that combines bempedoic acid, ezetimibe and a statin, in the licensed territories.
In the past year, shares of Esperion have plunged 61.8% compared to the industry’s 0.5% fall.
Image Source: Zacks Investment Research
We remind investors that both Nilemdo and Nustendi are currently approved in Europe for lowering cholesterol levels in the blood. Nilemdo and Nustendi are marketed by Esperion for similar indications in the United States under the trade names Nexletol and Nexlizet, respectively.
FDA filings for both drugs in CV indication are also under review and a final decision is expected by the end of March 2024.
The submissions with the FDA and EMA for Nexletol/Nilemdo and Nexlizet/Nustendi in CV, risk reduction indications, are based on data from the phase III CLEAR Cardiovascular Outcomes (CVOT) study wherein treatment with bempedoic acid (which is contained in both drugs) can significantly reduce CV risk across a range of primary and second endpoints.
In the past 60 days, Aquestive Therapeutics’ loss estimates for 2023 have improved from 25 cents per share to 7 cents. During the same period, loss estimates per share for 2024 have narrowed from 56 cents to 34 cents. Shares of Aquestive have surged 134.8% in the past year.
Aquestive Therapeutics’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 70.58%. In the last reported quarter, Aquestive’s earnings beat estimates by 72.73%.
In the past 60 days, estimates for CytomX Therapeutics’ 2023 have improved from a loss of 37 cents per share to earnings of 2 cents. During the same period, the loss estimates per share for 2024 have narrowed from 51 cents to 6 cents. Shares of CytomX have lost 2.4% in the past year.
CytomX Therapeutics’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 45.44%. In the last reported quarter, CytomX Therapeutics’ earnings beat estimates by 123.53%.
In the past 60 days, Sarepta’s loss estimates for 2023 have improved from a loss of $7.53 per share to $6.80 per share. During the same period, earnings estimates per share for 2024 have risen from 46 cents to $1.71. Sarepta’s shares have lost 25% in the past year.
Sarepta’s earnings beat estimates in each of the last four quarters, delivering an average surprise of 48.67%. In the last reported quarter, Sarepta’s earnings beat estimates by 72.29%.
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Esperion (ESPR) Settles Milestone Dispute With Daiichi Sankyo
Esperion (ESPR - Free Report) announced that it has signed an amendment to its existing collaboration with Daiichi Sankyo Europe (DSE), which is valued at $125 million.
One of the terms of this agreement also involves an ‘amicable resolution’ to a commercial dispute that started between the companies last year over a milestone payment.
Per the terms of settlement between the two companies, Daiichi will pay $100 million to Esperion in the coming weeks prior to the label expansion for their bempedoic acid products Nilemdo and Nustendi in reducing cardiovascular (CV) risk among patients with or at high risk for atherosclerotic cardiovascular disease (ASCVD). On receipt of the EMA’s approval, Esperion is entitled to receive a further payment of $25 million from DSE. A final decision is expected by first-half 2024.
As part of the resolution, Esperion will shift manufacturing and supply responsibilities to Daiichi in Europe and other territories. This is expected to yield significant cost savings and efficiencies for both companies. DSE will also lead all regulatory activities with the EMA regarding the pending applications.
The companies have also expanded their partnerships to develop and market a triple formulation product that combines bempedoic acid, ezetimibe and a statin, in the licensed territories.
In the past year, shares of Esperion have plunged 61.8% compared to the industry’s 0.5% fall.
Image Source: Zacks Investment Research
We remind investors that both Nilemdo and Nustendi are currently approved in Europe for lowering cholesterol levels in the blood. Nilemdo and Nustendi are marketed by Esperion for similar indications in the United States under the trade names Nexletol and Nexlizet, respectively.
FDA filings for both drugs in CV indication are also under review and a final decision is expected by the end of March 2024.
The submissions with the FDA and EMA for Nexletol/Nilemdo and Nexlizet/Nustendi in CV, risk reduction indications, are based on data from the phase III CLEAR Cardiovascular Outcomes (CVOT) study wherein treatment with bempedoic acid (which is contained in both drugs) can significantly reduce CV risk across a range of primary and second endpoints.
Esperion Therapeutics, Inc. Price
Esperion Therapeutics, Inc. price | Esperion Therapeutics, Inc. Quote
Zacks Rank & Key Picks
Esperion currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the overall healthcare sector include Aquestive Therapeutics (AQST - Free Report) , CytomX Therapeutics (CTMX - Free Report) and Sarepta Therapeutics (SRPT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, Aquestive Therapeutics’ loss estimates for 2023 have improved from 25 cents per share to 7 cents. During the same period, loss estimates per share for 2024 have narrowed from 56 cents to 34 cents. Shares of Aquestive have surged 134.8% in the past year.
Aquestive Therapeutics’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 70.58%. In the last reported quarter, Aquestive’s earnings beat estimates by 72.73%.
In the past 60 days, estimates for CytomX Therapeutics’ 2023 have improved from a loss of 37 cents per share to earnings of 2 cents. During the same period, the loss estimates per share for 2024 have narrowed from 51 cents to 6 cents. Shares of CytomX have lost 2.4% in the past year.
CytomX Therapeutics’ earnings beat estimates in three of the last four quarters while missing the estimates on one occasion. On average, the company witnessed an average surprise of 45.44%. In the last reported quarter, CytomX Therapeutics’ earnings beat estimates by 123.53%.
In the past 60 days, Sarepta’s loss estimates for 2023 have improved from a loss of $7.53 per share to $6.80 per share. During the same period, earnings estimates per share for 2024 have risen from 46 cents to $1.71. Sarepta’s shares have lost 25% in the past year.
Sarepta’s earnings beat estimates in each of the last four quarters, delivering an average surprise of 48.67%. In the last reported quarter, Sarepta’s earnings beat estimates by 72.29%.