Aegerion Pharmaceuticals, Inc.
) announced preliminary results for the year ended Dec 31, 2013
with net product revenues coming in between $48-$49 million,
below the Zacks Consensus Estimate of $50 million. This update is
in line with Aegerion's most recent guidance of revenues between
$45 million and $50 million.
Aegerion expects 2014 product sales in the range $190 million
to $210 million worldwide. For 2014, Aegerion expects total
operating expenses (excluding stock-based compensation) in the
range of $145 million to $155 million.
Aegerion plans to initiate a therapeutic study on Juxtapid in
pediatric patients in 2014. Discussions relating to the trial
protocol design are underway with both the U.S. Food and Drug
Administration (FDA) and European Medicines Agency (EMA). In
2014, Aegerion plans to submit regulatory filings for potential
marketing approval of Juxtapid in several markets.
We note that Juxtapid, indicated for the treatment of patients
suffering from homozygous familial hypercholesterolemia (HoFH),
was launched in the U.S. in late Jan 2013. The Committee for
Medicinal Products for Human Use (CHMP) of the European Medicines
Agency gave a positive opinion on the drug in May 2013 and
Aegerion gained EU approval in Jul 2013 under the brand name
The positive preliminary results for 2013 were overshadowed by
the receipt of a subpoena from the United States Department of
Justice requesting documents regarding the marketing and sale of
Juxtapid in the U.S. Following this news, Aegerion's share price
fell 13.22% after market closed on Jan 9, 2014.
Aegerion carries a Zacks Rank #3 (Hold). Other players in the
pharma industry, which look attractive at current levels, include
Sucampo Pharmaceuticals Inc.
PharmaTech (Cayman) Inc.
Forest Laboratories Inc.
). All the three stocks carry a Zacks Rank #1 (Strong Buy).
AEGERION PHARMA (AEGR): Free Stock Analysis
FOREST LABS A (FRX): Free Stock Analysis
SUCAMPO PHARMAC (SCMP): Free Stock Analysis
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