Aegerion discloses Juxtapid marketing subpoena

AP News
Posted: Jan 09, 2014 6:16 PM

NEW YORK (AP) — Aegerion Pharmaceuticals said Thursday that the U.S. government is looking into the marketing of its cholesterol disorder drug Juxtapid.

The company said it received a subpoena from the Department of Justice. The agency is seeking documents related to the marketing of Juxtapid in the U.S. Aegerion said it will cooperate fully with the investigation.

Juxtapid is designed to treat a rare condition called homozygous familial hypercholesterolemia, which causes high levels of "bad" LDL cholesterol. The Food and Drug Administration approved the drug in December 2012 and European Union regulators did the same in August 2013.

Aegerion also said it expects to report $48 million to $49 million in net product sales in 2013. That implies about $24 million to $25 million in revenue in the fourth quarter. The company said it expects to report $190 million to $210 million in revenue in 2014.

Shares of Aegerion Pharmaceuticals Inc. fell $10.75, or 14.6 percent, to $63 in aftermarket trading. The stock rose 52 cents to $73.75 during the day.