Date: 2016-02-11
Type of information: Restructuring
Compound:
Company: Aegerion Pharmaceuticals (USA - MA)
Therapeutic area: Rare diseases - Genetic diseases - Metabolic diseases
Type agreement: restructuring
Action mechanism:
Disease:
Details: * On February 11, 2016, Aegerion Pharmaceuticals announced that it is reducing approximately 25% percent of its global workforce. The reduction in force includes positions in all major departments. This reduction in force is part of a broad program taken by Aegerion to significantly reduce its operating expenses and extend its cash position as Juxtapid® (lomitapide capsules) sales in the U.S. are impacted by the introduction of competitive therapies.
Aegerion expects to complete the reduction in force, and to substantially complete the payment of employee severance and other related costs, by the end of the second quarter of 2016. Following the workforce reduction, Aegerion expects to have approximately 230 employees globally.
Financial terms:
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