Esperion Therapeutics rises after partner Otsuka wins Japan approval for high cholesterol drug

Shares of Esperion Therapeutics ESPR.O rise 3.6% to $2.84 premarket

ESPR says its partner, Otsuka Pharmaceutical, received approval from Japan's health ministry to market Nexletol, a cholesterol-lowering pill, for patients with high cholesterol and familial high cholesterol

Under its deal with Otsuka, Esperion is eligible for milestone payments tied to the approval and to Japan's national price listing, as well as additional sales-based milestones

The company will also receive tiered royalties of 15% to 30% on Otsuka’s net sales in Japan

As of last close, ESPR stock up 25% YTD