General Background, History and Key Product Lines Sample Clauses

General Background, History and Key Product Lines. The Debtors, together with their non-Debtor affiliates, including their non-Debtor-parent Novelion Therapeutics Inc. (collectively, the “Company”), comprise a rare-disease biopharmaceutical company dedicated to developing and commercializing prescription drug products for individuals living with rare diseases. Headquartered in Cambridge, Massachusetts, the Debtors maintain operations in the United States, Canada, Europe, certain countries in Latin America and Japan. While the Debtors derive the majority of their revenue from sales in the United States, the Debtors also generate revenues, directly or through third party distributors and other providers, from countries in the European Union, Turkey and Latin America, among others, and outlicense5 their products in certain jurisdictions in exchange for royalties or other payments. On November 29, 2016, Aegerion entered into a merger transaction with non-Debtor Novelion Therapeutics Inc. (formerly QLT Inc.) (“Novelion”), a publicly-traded company formed under the laws of the Province of British Columbia. As a result of that transaction, Aegerion became an indirect wholly-owned subsidiary of Novelion. Aegerion serves as the operating business of the Company and substantially all of the assets and operations reside at Aegerion and its non-debtor foreign subsidiaries. As discussed in more detail below, through Aegerion, the Company develops and commercializes two products — lomitapide and metreleptin — which treat individuals with rare diseases. Despite the Company’s global presence, the majority of its revenue is derived from the sale of these drugs in the United States. For example, in 2018 the Company’s net revenues from lomitapide and metreleptin were approximately $130.4 million (of which $96 million of which was attributable to the Debtors). $83.4 million of the net revenue was derived from prescriptions written in the United States with the remainder derived from sales and royalties on sales outside of the U.S. i.
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