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Investing.com -- Esperion Therapeutics Inc (NASDAQ:ESPR) stock rose 2.4% in premarket trading Friday after the company announced it will receive a $90 million payment following the launch of its cholesterol drug in Japan.
The payment comes as Esperion’s partner, Otsuka Pharmaceutical Co., Ltd., received National Health Insurance Price Listing and launched NEXLETOL (bempedoic acid) tablets in Japan for the treatment of hypercholesterolemia and familial hypercholesterolemia.
Japan represents the third largest global market for cardiovascular prevention, marking a significant commercial opportunity for Esperion’s cholesterol-lowering medication. The launch follows regulatory and pricing approvals in the country.
"We are thrilled that Otsuka, our partner in Japan, has received national pricing approval and launched NEXLETOL," said Sheldon Koenig, President and CEO of Esperion.
Under the collaboration agreement, Esperion will receive the $90 million payment in the near term. The company is also eligible for additional sales milestone payments based on Otsuka’s net sales achievements in Japan, plus tiered royalties ranging from 15% to 30% on net sales in the country.
The payment strengthens Esperion’s financial position as it continues to expand global access to its cholesterol-lowering therapy.
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