Aegerion Creditors Approve Drugmaker’s Chapter 11 Plan - (The Wall Street Journal via NewsPoints Desk)

  • Creditors of Novelion Therapeutics' Aegerion Pharmaceuticals unit have approved a bankruptcy plan that gives the drugmaker's business to Amryt Pharma, The Wall Street Journal reported Friday.

  • The Juxtapid manufacturer filed for bankruptcy in May with a deal to recapitalise approximately $414 million in outstanding debt and awarded its business to Amryt.

  • The news comes after a Canadian judge dismissed a lawsuit accusing Novelion of wrongfully disposing its investment in Aegerion without consulting shareholders.

  • Separately, Aegerion continues to face mounting legal costs linked to probes by the Justice Department and Securities and Exchange Commission over its marketing of Juxtapid.

  • In court documents, the firm indicated that it owes $26.4 million in instalment payments to state and federal regulators through 2021 in response to guilty pleas to allegations of violations of the Federal Food, Drug and Cosmetic Act.

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