Aegerion Pharmaceuticals (NASDAQ: AEGR) has received its first approval from the Food and Drug Administration, the company announced in a press release. The FDA gave the nod to the firm's Juxtapid, a drug that combats a rare genetic cholesterol disorder called homozygous familiar hypercholesterolemia.

According to The Wall Street Journal, around 3,000 patients in the U.S. are eligible to use the medication. It is expected to cost $200,000-$300,000 per year for a prescription. Since Juxtapid carries a risk of liver toxicity, the FDA is requiring the company to ship it with warning labels addressing that fact.

Aegerion will begin the sales process for Juxtapid in January.