Aegerion Files Ch. 11, Plans $400M Sale To Amryt Pharma
Law360 (May 21, 2019, 3:15 PM EDT) -- Embattled specialty drug company Aegerion has filed for bankruptcy with plans to sell itself to Amryt Pharma PLC for $400 million, a move that comes one year after the company pled guilty in an off-label marketing scheme.
In a first-day declaration filed Tuesday, John R. Castellano of turnaround consultancy AlixPartners said Aegerion was laid low by increased competition and the legal, financial and reputational fallout from the off-label marketing of its key cholesterol drug Juxtapid. AlixPartners is guiding Aegerion through its Chapter 11 case.
Aegerion agreed to pled guilty to two misdemeanor misbranding counts in 2016 and agreed to pay $40 million...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!