Orange County Business Journal

Questcor Rises on Drug Sales Data

Vita Reed Monday, July 9, 2012

Anaheim-based Questcor Pharmaceuticals Inc.’s shares rose today on news of increased sales of its sole drug.

The drug maker’s shares closed up 15% with a market value of about $3.7 billion.

Questcor said in a Securities and Exchange Commission filing that it shipped 4,710 vials of its H.P. Acthar Gel in the second quarter, up 15% from the first quarter.

Acthar is used to treat nephrotic syndrome, a kidney disorder, as well as multiple sclerosis flare-ups and infantile spasms, a rare form of epilepsy. Most of the drug’s sales are from nephrotic syndrome and multiple sclerosis, however.

Questcor is set to report its second-quarter financial data on July 23. Analysts expect the company to post a profit of $36.2 million on sales of $102.5 million.