UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 7, 2016
AEGERION PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
Delaware |
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001-34921 |
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20-2960116 |
(State or other jurisdiction |
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(Commission |
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(IRS Identification No.) |
One Main Street, Suite 800
Cambridge, MA 02142
(Address of principal executive offices)
Registrants telephone number, including area code: (617) 500-7867
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)
o Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.05. Costs Associated with Exit or Disposal Activities.
On February 7, 2016, Aegerion Pharmaceuticals, Inc. (the Company) committed to a cost-reduction plan that includes approximately 25% of the Companys workforce. This cost-reduction plan is part of a broad program to significantly reduce the Companys operating expenses and extend its cash position as JUXTAPID® (lomitapide capsules) sales in the U.S. are impacted by the introduction of competitive therapies. The positions impacted are across substantially all of the Companys functions. The Company expects to complete the reduction in force, and to substantially complete the payment of any employee severance and benefits, by the end of the second quarter of 2016.
As a result of the reduction in force, the Company estimates that it will incur aggregate charges of approximately $1.6 to $1.8 million for one-time severance and related costs in the first quarter of 2016, of which all such charges are expected to result in cash expenditures.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: February 11, 2016
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AEGERION PHARMACEUTICALS, INC. | |
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By: |
/s/ Benjamin Harshbarger |
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Benjamin Harshbarger |
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Acting General Counsel |