Biopharmaceutical company Esperion Therapeutics, Inc. (ESPR) announced Friday that Otsuka Pharmaceutical Co. Ltd. has received approval from the Japanese Ministry of Health, Labour and Welfare to market NEXLETOL (bempedoic acid) tablets in Japan as a treatment for hypercholesterolemia and familial hypercholesterolemia.
Otsuka is Esperion's partner for the development and commercialization of NEXLETOL (bempedoic acid) tablets in Japan.
Under the terms of the collaboration and license agreement, Esperion is eligible to receive significant milestone payments upon regulatory approval and National Health Insurance Price Listing for NEXLETOL in the Otsuka territory.
In addition, Esperion is eligible to receive additional sales milestone payments based on total net sales achievements by Otsuka in Japan, as well as tiered royalties ranging from fifteen percent to thirty percent on net sales in Japan.
NEXLETOL is now approved across the U.S., Europe, and Japan.
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