Novelion Therapeutics announces U.S. court confirmation of Aegerion case
Novelion Therapeutics announced that, further to its press release dated August 30, 2019, the United States Bankruptcy Court for the Southern District of New York entered an order on September 10, 2019 confirming Aegerion's First Amended Joint Chapter 11 Plan, as modified to reflect certain resolutions agreed to among various parties. On May 20, 2019, as previously disclosed, Aegerion Pharmaceuticals, Inc. and Aegerion Pharmaceuticals Holdings, Inc., each a subsidiary of the company, filed voluntary petitions under chapter 11 of Title 11 of the United States Code in the Bankruptcy Court. As a result of confirmation of the Plan, the Bankruptcy Court has authorized Aegerion to consummate the transactions contemplated by the Plan, including the acquisition by Amryt Pharma Plc of 100 percent of the outstanding equity interests of the reorganized Aegerion Pharmaceuticals, Inc. A meeting of the Plan Investor's shareholders to consider approval of the acquisition is currently scheduled for September 19, 2019. If the Plan Investor's shareholders approve the acquisition, the Plan Investor expects the closing of the acquisition to take place on or about September 24, 2019.