Esperion Therapeutics (NASDAQ: ESPR) is a pharmaceutical company that develops and commercializes oral therapies for LDL-C lowering. Revenue comes from product sales of bempedoic acid and the bempedoic acid/ezetimibe combination tablet, plus royalties from a license partner. The royalty stream is encumbered by a Royalty Purchase Agreement with OCM IP Healthcare Portfolio LP (OMERS), entered June 27, 2024, which carried a royalty sale liability of $295.8 million as of December 31, 2025, and is treated as a debt instrument under ASC 470. The company also carries a term loan entered December 13, 2024, and convertible notes. Esperion participates in the Medicaid Drug Rebate Program, the 340B drug pricing program, and the VA Federal Supply Schedule pricing program. Research and development activity as of the FY2025 10-K filing remains focused on bempedoic acid, the bempedoic acid/ezetimibe combination tablet, next-generation ACLY inhibitors, and a Phase III pediatric trial. The company reported net losses for FY2025, FY2024, and FY2023 and carries a stockholders' deficit.

Revenue model

Product sales of bempedoic acid and the bempedoic acid/ezetimibe combination tablet, plus royalties from a license partner. Royalty revenue is partially monetized via the Royalty Purchase Agreement with OMERS (entered June 27, 2024). Revenue is subject to Medicaid rebates, 340B pricing obligations, and VA FSS pricing requirements.

Products and services

Bempedoic acid oral tablet; bempedoic acid/ezetimibe combination tablet; early-stage next-generation ACLY inhibitor pipeline assets. Both commercial products target LDL-C lowering.

Customers and end markets

Patients requiring LDL-C lowering therapy, dispensed through outpatient channels including Medicaid and Medicare Part B beneficiaries. End markets include U.S. managed care, Medicaid, and VA health systems. A license partner generates royalties, though the partner is not named in the excerpts.

Value-chain role

Drug developer and commercial-stage manufacturer/marketer of oral LDL-C lowering therapies. Outsources clinical study execution to CROs, investigators, and central laboratories. Also acts as licensor, receiving royalties from at least one license partner.

Geographic exposure

Primarily United States commercial operations, based on Medicaid, Medicare, and VA program participation disclosed in the FY2025 10-K. International exposure not specified in the provided excerpts.

Source: SEC 10-K, filed 2026-03-10

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