Pharmaceutical Company Paying Penalty for Misleading Investors About Sales Metric
United States Minor Outlying Islands
- 09/22/2017
- Fine
- 4,100,000.00
- Securities and Exchange Commission. U.S
Detail
Aegerion Pharmaceuticals, now a subsidiary of Novelion Therapeutics, has agreed to pay a $4.1 million penalty to settle the charges that it misled investors on multiple occasions in 2013. The SEC’s complaint alleges that Aegerion told investors that the number of unfilled prescriptions for Juxtapid was not material and the “vast majority” of patients receiving prescriptions ultimately purchased the drug. The SEC alleges that Aegerion’s records reflect that it was actually around 50 percent of prescriptions that resulted in actual drug purchases.
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