Cambridge biotech Aegerion Pharmaceuticals Inc. said Wednesday it is reducing its global workforce by 13 percent, cutting about 25 jobs, as it prepares to withdraw from European markets its lipid-lowering drug lomitapide, which treats extremely high choloesterol.
Both moves are part of a strategy to lower the cost base of Aegerion, which last month agreed to be acquired by QLT Inc. of Vancouver, Canada, in a deal that will create a new company backed with fresh capital from investors. When the cutback is completed, Aegerion will have about 190 employees, but the company wouldn't say how many are in Cambridge.
"We are making difficult but necessary decisions to realign our business with the goal to position the company for future growth and financial strength," Aegerion chief executive Mary Szela said in a statement. She cited the "significant time and investment" that would be required to obtain reimbursement for lomitapide in European countries.
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