Novelion Therapeutics Announces Sentencing of Subsidiary Aegerion Pharmaceuticals

Novelion Therapeutics (NASDAQ:NVLN), a biopharmaceutical company dedicated to developing new standards of care for individuals living with rare metabolic diseases, today announced that a U.S. District Court judge has sentenced Novelion subsidiary Aegerion Pharmaceuticals.
As quoted in the press release:

Aegerion’s global settlement consists of a series of agreements, including the criminal plea agreement, which, if all of the agreements are finally approved, would result in an approximately $40.1 million aggregate penalty to be paid over three years. This includes the restitution fund described above as well as a civil penalty of $4.1 million to be paid to the SEC pursuant to an SEC Judgment, and $28.8 million, including $2.7 million designated for certain states, to be paid pursuant to the DOJ Civil Settlement Agreement, which is subject to final approval by a U.S. District Court Judge.

Click here to read the full press release.