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Aegerion Pharmaceuticals Announces First-Quarter 2013 Financial Results

Aegerion Pharmaceuticals Announces First-Quarter 2013 Financial Results

Commercial Launch of JUXTAPID(TM) (lomitapide) Capsules is on Track

CAMBRIDGE, Mass., April 30, 2013 (GLOBE NEWSWIRE) -- Aegerion Pharmaceuticals,
Inc. (Nasdaq:AEGR), a biopharmaceutical company dedicated to the development
and commercialization of innovative, life-altering therapies for patients with
debilitating, often fatal, rare diseases, announced its financial results and
business highlights for the first-quarter of 2013.

Highlights

  *Aegerion has more than 185 U.S. commercial and global named patient
    prescriptions for JUXTAPID written, and 75 patients are currently on
    JUXTAPID therapy. Re-orders for patients are on track and dropouts to date
    have been minimal.
    
  *A significant foundation of REMS-trained physicians is established and
    growing.
    
  *The company participated in a Scientific Advisory Group meeting at the
    European Medicines Agency (EMA) on April 9^th.

"Several months into launch, our commercial preparedness continues to be
evident in the company's execution," said Marc D. Beer, Chief Executive
Officer. "We are encouraged by the uptake of JUXTAPID in the HoFH market. We
believe there is a palpable sense of the need to treat these patients on the
part of physicians, and the desire to use JUXTAPID. Our early launch traction
thus far supports that notion."

"Our recent interactions with EU regulators on our MAA for JUXTAPID have been
encouraging, and we continue to be optimistic about our potential for a
positive CHMP opinion in the second quarter and mid-2013 approval," said
Martha Carter, Chief Regulatory Officer. "Based on discussions with the EU
regulators to date, we believe we will be able to address the remaining
outstanding issues in our MAA without the need for an oral explanation."

Financial Results

Net product sales for the first-quarter ended March 31, 2013 were $1.2
million.

For the first-quarter ended March 31, 2013, net loss was $18.1 million, or
$0.64 per share, compared with a net loss of $11.7 million, or $0.55 per
share, for the same period in 2012.

Selling, general and administrative expenses were $13.2 million for the
quarter ended March 31, 2013, compared to $5.1 million for the same period in
2012. The increase in selling, general and administrative expenses in the
first quarter of 2013 over the comparable period in 2012 was primarily related
to costs of increased headcount and selling and marketing costs to support the
commercial launch of JUXTAPID and increased headcount in administrative
functions.

Research and development expenses were $5.8 million for the quarter ended
March 31, 2013, compared to $4.6 million for the same period in 2012. The
increase in research and development expenses in the first quarter of 2013
over the comparable period in 2012 was primarily related to costs of increased
headcount required to support the Company's regulatory and medical affairs
activities, and clinical development expenses in connection with clinical
activities to support a potential marketing authorization application for
JUXTAPID in Japanese HoFH patients, partially offset by a decrease in
manufacturing development costs for JUXTAPID incurred prior to product
approval.

Cash, cash equivalents and marketable securities totaled $140.7 million as of
March 31, 2013, compared to $82.2 million as of December 31, 2012.

2013 Financial Guidance

Aegerion continues to expect total operating expenses, excluding stock-based
compensation expense, to be between $75 and $85 million in 2013. The Company
expects GAAP operating expenses in 2013, including stock-based compensation,
to be between $95 and $105 million. Aegerion also expects global net product
sales of $15 million to $25 million for FY 2013 and 250 to 300 patients on
JUXTAPID therapy globally by year-end 2013.

Conference Call Details

Aegerion will hold a conference call to discuss its financial results,
business highlights and outlook today, Tuesday, April 30, 2013 at 8:30 a.m.
EDT. In addition, the Company will answer questions concerning business and
financial developments and trends, and other matters affecting the Company,
some of the responses to which may contain information that has not been
previously disclosed.

To listen to the conference call, dial (866) 516-3002 (international callers
dial (760) 298-5082). In addition, the presentation will be webcast live, and
may be accessed for up to 30 days following the call, by visiting the
"Investors" section of Aegerion's website, www.aegerion.com.An accompanying
slide presentation also can be accessed via the "Investors" section of the
Aegerion website.

About Aegerion Pharmaceuticals

Aegerion Pharmaceuticals is a biopharmaceutical company dedicated to the
development and commercialization of innovative, life-altering therapies for
patients with debilitating, often fatal, rare diseases. For more information
about the company, please visit www.aegerion.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements
regarding the commercialization of JUXTAPID in the U.S.; the potential for
JUXTAPID as a treatment for HoFH; forecasts as to the number of patients
expected to be on therapy at the end of 2013; the potential and possible
timeline and process of approval of JUXTAPID in the E.U.; and expectations as
to future financial results, including operating expenses and net product
sales. These forward-looking statements are neither promises nor guarantees of
future performance, and are subject to a variety of risks and uncertainties,
many of which are beyond our control, which could cause actual results to
differ materially from those contemplated in these forward-looking statements.
In particular, the risks and uncertainties include, among other factors: the
risk that market acceptance of JUXTAPID may be lower than expected; the risk
that prescriptions for JUXTAPID may not result in shipments of product; the
risk that the actual number of patients with HoFH may be lower than our
estimates; the risk that the restrictions imposed by the regulatory
authorities or the side effect profile or the impact of competitive products
may limit the potential of JUXTAPID; the risk that payers impose restrictions
that hinder reimbursement; the risk that regulatory authorities in the E.U. or
other countries outside the U.S. may not be satisfied with the efficacy or
safety profile of JUXTAPID or our proposed risk management plan; the risk that
we do not receive approval of JUXTAPID in the E.U. or other countries outside
the U.S. on a timely basis, or at all or that regulatory authorities impose
significant restrictions on approval; the risk that we do not obtain requisite
pricing approvals outside the U.S; the risk that we are not able to generate
the level of named patient sales in countries outside the U.S. that we expect;
the risk that technical hurdles may delay initiation of future clinical
trials; the risk of unexpected results in use of our commercial product or
during our additional nonclinical or clinical development work with JUXTAPID;
the risk of unexpected manufacturing issues affecting future supply; the risk
that any of the foregoing may cause product sales revenue to be lower than we
expect, or that we may incur unanticipated expenses in connection with our
activities; and the other risks inherent in commercialization, drug
development and the regulatory approval process.

For additional disclosure regarding these and other risks we face, see the
disclosure contained in the "Risk Factors" section of Aegerion's Annual Report
on Form 10-K filed on March 18, 2013, and our other public filings with the
Securities and Exchange Commission, available on the SEC's website at
http://www.sec.gov. We undertake no obligation to update or revise the
information contained in this press release, whether as a result of new
information, future events or circumstances or otherwise.

Aegerion Pharmaceuticals, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
                                                                 
                                                      Three Months Ended
                                                       March 31,
(In 000s)                                              2013        2012
Net product sales                                      $1,231    $--
Cost of sales                                          183        --
Operating expenses:                                               
Selling, general and administrative                    13,220     5,111
Researchand development                               5,775      4,635
Restructuring costs                                    1          831
Total operating expenses                               18,996     10,577
                                                                 
Loss from operations                                   (17,948)   (10,577)
Interest expense, net                                  (149)      (286)
Other expense, net                                     (45)       (802)
Net loss                                               $(18,142) $(11,665)
Net lossper common share - basic and diluted          $(0.64)   $(0.55)
Weighted-average shares outstanding - basic and        28,337     21,246
diluted


Aegerion Pharmaceuticals, Inc.
Condensed Consolidated Balance Sheets
(unaudited)
                                                           
(In 000s)                                     March 31, 2013 December 31, 2012
Cash, cash equivalents and marketable         $140,689     $82,177
securities
Accounts receivable, net                      763           --
Inventory                                     841           --
Prepaid expensesand other current assets     2,233         1,571
Restricted cash                               105           105
Propertyand equipment, net                   1,236         1,143
Other assets                                  93            93
Total assets                                  $145,960     $85,089
                                                           
Accounts payable and accrued expenses         $8,732       $13,904
Current portion of long-term debt             3,578         3,022
Long-term debt                                6,695         7,589
Other noncurrent liabilities                  190           173
Total liabilities                             19,195        24,688
Total stockholders' equity                    126,765       60,401
Total liabilities and stockholders' equity    $145,960     $85,089

CONTACT: Aegerion Pharmaceuticals, Inc.
         Amanda Murphy
         Manager, Investor Relations
         (857) 242-5024

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