Aegerion and QLT agree merger to form Novelion

16 June 2016

USA-based Aegerion Pharmaceuticals (Nasdaq: AEGR) and Canadian firm QLT (QLT: TSX) have agreed a strategic merger to create what they call a ‘well-capitalized, global biopharmaceutical organization’ with a focus on rare diseases.

The biotech companies have entered into a definitive agreement under which Aegerion will be merged with a wholly-owned indirect subsidiary of QLT.

Upon completion of the merger, each outstanding share of Aegerion common stock will be exchanged for 1.0256 shares of QLT, which will change its name to Novelion, in a transaction valued at around $43 million.

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