Es­pe­ri­on sues Dai­ichi Sankyo, de­mand­ing pay­ment of $300M mile­stone for car­dio drug

Es­pe­ri­on is su­ing its busi­ness part­ner Dai­ichi Sankyo, say­ing the Japan­ese drug­mak­er is im­prop­er­ly re­fus­ing to pay a $300 mil­lion mile­stone that the biotech com­pa­ny will be owed af­ter re­port­ing pos­i­tive da­ta from a large tri­al of its car­dio­vas­cu­lar drug Nexle­tol.

The 2019 deal be­tween the com­pa­nies had Dai­ichi Sankyo pay $150 mil­lion up­front plus an­oth­er $150 mil­lion af­ter the first sales of the drug. But an­oth­er ma­jor pay­out was tied to an out­comes study re­port­ed this month, known as CLEAR. Es­pe­ri­on, in its suit against Dai­ichi, ar­gues that the drug’s more than 20% re­duc­tion of heart at­tack risk is enough to trig­ger a $300 mil­lion pay­out from Dai­ichi once it’s added to the drug’s la­bel.

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