BUZZ-Aegerion Pharma and QLT Inc set to soar after merger agreement

Wed Jun 15, 2016 8:30am EDT
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** Aegerion's shares up 39.1 pct at $1.85 premarket after the drugmaker agreed to merge with QLT Inc's indirect unit

** QLT's U.S.-listed shares also up 25.2 pct at $1.79 before the opening bell

** Each Aegerion share to be exchanged for 1.0256 shares of QLT, which will change its name to Novelion Therapeutics Inc and trade on the Nasdaq and Toronto stock exchanges

** Both stocks among the top percentage gainers premarket

** Aegerion stock, which had been trading at record low levels, recorded its biggest one-day percentage gain, a rise of 33.5 pct, a month back

** Still, up to Monday's close, Aegerion's stock had fallen about 87 pct this year, while QLT's had fallen about 27 pct