Questcor Shares Jump on Sales NumbersMonday, January 9, 2012
Anaheim-based drug maker Questcor Pharmaceuticals Inc. saw its shares rise today on news about sales of its sole drug.
Questcor’s shares closed up 8% with a market value of about $2.6 billion.
Questcor said late Friday that it shipped 3,360 vials of its H.P. Acthar Gel in the fourth quarter, compared with 1,680 shipped in 2010’s fourth quarter. Acthar, an injectable gel, is used to treat multiple sclerosis flare-ups, as well as for treating kidney disorder nephrotic syndrome and infantile spasms, a very rare form of epilepsy.
The drug maker said it filled between 935 and 950 paid prescriptions for Acthar in multiple sclerosis flare-ups; almost triple the number in 2010’s fourth quarter. New paid prescriptions for nephrotic syndrome totaled 140 to 150 in the quarter, while infantile spasm prescriptions came in at 120 to 125.
Questcor is set to release its full fourth-quarter and 2011 results on Feb. 22. Analysts are expecting it to post a profit of $23.1 million on revenue of $67.4 million.