In a regulatory filing, the company discloses that it received a request from the SEC for information regarding its sales activities related to Juxtapid (lomitapide). The regulator also requested documents and information on other matters related to investigations by Brazilian authorities to determine if the company's commercial activities there violated its anti-corruption laws. Aegerion intends to cooperate fully with the SEC.
Aegerion Pharmaceuticals (NASDAQ:AEGR) acquires Myalept (metreleptin for injection) from AstraZeneca (NYSE:AZN) for $325M. The drug is indicated for the treatment of leptin deficiency in patients with generalized lipodystrophy. It is the first and only product approved in the U.S. to treat the disease.
Myalept has Orphan Drug status in the U.S., European Union and Japan.
Aegerion Pharmaceuticals (AEGR -41.1%) plummets to 52-week lows after reporting a wider than expected Q3 loss and issuing downside guidance for FY 2014.
AEGR now sees 2014 revenues of $150M-$160M from its prior range of $180M-$200M and below $172M analyst consensus estimate, after Q3 sales of its flagship Juxtapid drug fell $5M short of expectations at $44M.
Shares are downgraded by at least five firms, including BofA Merrill, which cut its rating all the way down to Underperform from Buy.