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Last Update: 09-Oct-12 09:14 ET
QuestCor Pharma shares spike 7% following disclosure Acthar shipments
Questcor Pharma (QCOR $21.71 +1.42) disclosed that during September 2012, Questcor shipped a total of 1,740 vials of Acthar to CuraScript SD, down from 2,200 vials in Aug. Co shipped 1,650 vials in July, 1,800 vials in June. Co said patients with serious, difficult-to-treat medical conditions continue to have access to Acthar, through commercial insurance, Medicare, Medicaid and other government programs as well as through their free drug program. The company has not repurchased any shares since the filing of the co's Form 8-K on September 7, 2012. On September 28, 2012, the co announced that our Board of Directors has increased the co's common stock repurchase program authorization to 7 million shares. As previously announced, on September 21, 2012, the co became aware of an investigation by the United States Attorney's Office for the Eastern District of Pennsylvania (the "USAO") regarding the Company's promotional practices. Following our September 24, 2012 announcement of this investigation, we received a subpoena from the USAO for information relating to our promotional practices. The co is fully cooperating with the USAO.
Questcor Pharma (QCOR $21.71 +1.42) disclosed that during September 2012, Questcor shipped a total of 1,740 vials of Acthar to CuraScript SD, down