Investment firm Archimed has agreed to acquire Esperion Therapeutics for up to $1.1 billion, the companies announced on Friday, sending Esperion’s shares soaring more than 55% in early trading.
Under the deal, Esperion shareholders will receive $3.16 in cash per share, representing a premium of about 58% compared to the company’s previous closing price.
Shareholders may also receive additional contingent payments of up to $100 million if Esperion Therapeutics achieves certain sales targets in the coming years, the companies said.
The Michigan-based firm markets Nexletol and Nexlizet, drugs designed to lower LDL, or “bad” cholesterol, and reduce the risk of heart disease.
Earlier this year, Esperion also acquired Corstasis Therapeutics, adding Enbumyst to its portfolio a nasal spray approved in September 2025 that helps remove excess fluid in adults with heart, liver, or kidney conditions.
Kristen Kluska noted that the deal valuation appears relatively low, given the company’s estimated peak U.S. sales potential of around $1.5 billion.
Kristen Kluska said the relatively low valuation could reflect doubts about how widely the company’s products will penetrate the market, adding that if peak sales were closer to $500 million, the stock likely would have been trading near $3 even before the acquisition.
Esperion Therapeutics reported full-year 2025 revenue of $403.1 million, including $168.4 million in the fourth quarter alone.
The deal also includes additional payments to shareholders—up to $40 million if cholesterol drug sales exceed $350 million in 2027, and up to $60 million more if the nasal spray achieves $160 million in sales by 2030.
Esperion’s board has unanimously approved the transaction and is recommending that shareholders vote in favor of the deal.
