Questcor Shares Rise on Drug DataWednesday, June 6, 2012
Anaheim drug maker Questcor Pharmaceuticals Inc.’s shares rose today on news of greater demand for its sole drug.
Questcor’s shares closed up 7% with a market value of $2.8 billion.
The drug maker said in a Securities and Exchange Commission filing that it shipped about 2,910 vials of its Acthar drug in April and May, including vials delivered to Medicaid and other government programs.
Acthar is used to treat multiple sclerosis flares, as well as kidney disease nephrotic syndrome and a rare form of epilepsy called infantile spasms.
The number puts Questcor on pace to ship more of Acthar than it did in the first quarter and almost twice as much as it shipped in 2011’s second quarter.
Questcor also said that its plans to create a pilot program for Acthar as a treatment for rheumatoid conditions are running ahead of schedule and plans to pilot market the drug before year’s end.