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Novelion unit asks US judge to quickly resolve cholesterol drug probes

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Novelion unit asks US judge to quickly resolve cholesterol drug probes

Aegerion Pharmaceuticals Inc. is seeking to quickly resolve a case involving the misbranding of its cholesterol drug Juxtapid, Reuters reported.

The Novelion Therapeutics Inc. unit asked U.S. District Judge William Young to schedule a hearing so it could plead guilty to any new deal given that he rejected the company's last agreement with the Department of Justice.

Young scheduled a hearing for Jan. 30, 2018, after the company's request.

Aegerion said the case's uncertainty prevented its parent from accessing capital markets and hampered its efforts to recruit a new CEO.

Aegerion is still expected to pay $36 million to resolve criminal and civil liability arising from the charges, plus another $4.1 million to resolve charges that it misled investors on multiple occasions in 2013.

The drugmaker was accused of, among other things, drug misbranding, failing to comply with drug's risk management plan and inducing submission of false claims to federal healthcare programs.