May 1 (Reuters) – Investment firm Archimed will take Esperion Therapeutics private for up to $1.1 billion, the companies said on Friday, sending the drugmaker’s shares up over 55% in morning trading.
Under the terms of the agreement, shareholders of Esperion, which makes cholesterol-lowering drugs, will be offered $3.16 in cash for each share, representing a premium of about 58% to the company’s last closing price.
Shareholders could also receive additional contingent payments totaling up to $100 million if Esperion meets certain sales targets in the coming years, the companies said.
The Michigan-based Esperion sells Nexletol and Nexlizet, which aid in reducing the risk of heart disease by targeting LDL or “bad” cholesterol.
The company also acquired Corstasis Therapeutics in March, expanding its portfolio with Enbumyst, a nasal spray approved in September 2025 that helps remove excess fluid in adults with heart, liver or kidney issues.
Cantor analyst Kristen Kluska said the deal value appears low, considering the company’s estimated U.S. peak sales of about $1.5 billion.
This could be due to skepticism about market penetration, Kluska said, noting that if peak sales were near $500 million, the stock should have been around $3 before the takeover.
The company posted full-year 2025 revenue of $403.1 million, including $168.4 million in the fourth quarter alone.
The additional payments to shareholders include up to $40 million if cholesterol drug sales exceed $350 million in 2027, and up to $60 million more if the nasal spray reaches $160 million in sales by 2030.
Esperion’s board has unanimously approved the transaction and recommends that shareholders vote in favor of it.
The deal is expected to close in the third quarter of 2026.
(Reporting by Sriparna Roy and Kamal Choudhury in Bengaluru; Editing by Vijay Kishore)
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