May 21, 2019 / 8:56 PM / a month ago

Aegerion files for bankruptcy, plans sale to Amryt Pharma

Aegerion Pharmaceuticals Inc on Tuesday said it had filed for bankruptcy as part of a transaction that will lead to its sale to Amryt Pharma PLC, citing a heavy debt load and burdens stemming from a U.S. Justice Department drug marketing probe.

Aegerion, a subsidiary of Novelion Therapeutics, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Manhattan, saying revenue for its cholesterol drug Juxtapid had declined after it agreed to resolve the investigation in 2017.

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