Novelion unit asks U.S. judge to approve plea deal, cites money woes [Reuters]
NOVELION THERAPEUTICS INC COMMON SHARES (NVLN)
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Source: Reuters
Novelion unit asks U.S. judge to approve plea deal, cites money woes | Reuters 3 Min Read BOSTON, Dec 22 (Reuters) - Aegerion Pharmaceuticals Inc has asked a U.S. judge to quickly approve a new plea agreement aimed at resolving probes into its promotion of a cholesterol drug, saying its parent company has been blocked from capital markets due to the case’s uncertainty. The Novelion Therapeutics Inc unit asked U.S. District Judge William Young in Boston on Thursday to schedule a hearing so it can plead guilty to any new deal aimed at overcoming his objections to an earlier one. Young, who had rejected an earlier agreement, on Friday scheduled a hearing for Jan. 30. The initial deal in September called for Aegerion to plead guilty to two misdemeanor drug violations involving misbranding under the Food, Drug and Cosmetic Act and pay $40.1 million to resolve U.S. investigations. Young rejected the deal in November, say it “unduly hobbles” his judicial duties and restricted his ability to
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