Questcor Pharmaceuticals Inc. made plenty of headlines in its roughly four years as an Orange County-based public company.
The latest headline came several weeks ago when Mallinckrodt PLC, a drug maker with a tax-friendly headquarters in Ireland and operations headquarters in St. Louis, wrapped up its $5.8 billion cash-and-stock buy of the Anaheim-based company.
Questcor makes H.P. Acthar Gel, an injectable drug used for a diverse group of conditions, including rheumatoid arthritis and nephrotic syndrome, a kidney disorder. It added Synacthen in a 2013 deal with Switzerland-based Novartis AG.
Under Mallinckrodt’s ownership, Questcor’s local operations will basically remain intact in Anaheim with some changes at the top. The unit will be known as the Autoimmune and Rare Diseases business within Mallinckrodt.
Steve Cartt, previously Questcor’s chief operating officer, is running them and reporting directly to Mark Trudeau, Mallinckrodt’s chief executive.
Don Bailey, formerly Questcor’s chief executive, is now a member of Mallinckrodt’s board. Bailey moved Questcor to Anaheim from the Bay Area in 2010, setting up the headquarters near his Yorba Linda home.
Questcor’s time in Anaheim was characterized with fast growth of Acthar as it continued to add uses. The company reached just less than $800 million in sales with $292.6 million in profit in 2013.
First Patients Get VertiFlex
San Clemente-based VertiFlex Inc. said late last month that the first patients in a clinical trial for one of its spinal implant devices have been treated.
VertiFlex, which was founded in 2005, makes less-invasive medical devices for treating spinal diseases.
The device maker said in a news release that the trial, known as the Study to Evaluate PILD for Stenosis, is evaluating its Totalis device versus a simulated surgical procedure in patients who have lumbar spinal stenosis, or a curvature of the spine. The trial is developing evidence that could “pave the way to broad reimbursement coverage for the procedure by Medicare,” the company said.
VertiFlex is venture-backed. Investors include San Francisco-based Aberdare Ventures and Alta Partners, along with Stamford, Conn.-based Thomas, McNerney & Partners.
ReShape Touts Study Results
San Clemente-based ReShape Medical Inc. said late last month that a Spanish evaluation of 60 patients showed its dual-balloon weight loss device demonstrated clinically significant weight loss, among other things.
The company makes the ReShape Integrated Dual Balloon System, which uses balloons filled with saline to reduce the capacity of a patient’s stomach.
“As the world’s obesity epidemic continues to grow, it is more critical than ever that we identify additional safe and effective treatment options for those who struggle with their weight,” said Dr. Gontrand López-Nava, the trial’s primary investigator, in a news release. López-Nava practices at the Hospital Universitario Sanchinarro in Madrid, Spain.
ReShape submitted a premarket approval application to the Food and Drug Administration in July and is in the midst of a pivotal U.S. clinical trial.
Hoag Adds Department
Hoag Memorial Hospital Presbyterian recently opened a four-room obstetrics emergency department at its Newport Beach campus. The department treats pregnant women who are at more than 16 weeks of gestation.
Hospital officials said in a news release that more than 200 patients each month have come to the obstetrics emergency room for various pregnancy complications, including diabetes, pre-eclampsia and bleeding, and for evaluating and treating nausea, vomiting, headache and urinary tract infections.
Bits & Pieces
Kareo Inc., an Irvine-based provider of cloud-based billing and practice management software over the Internet for small medical practices, participated in Norwalk, Conn.-based UBM Medica’s Practice Rx conference last month in Philadelphia. Dr. Tom Giannulli, Kareo’s chief medical information officer, discussed the role of technology in patient care improvement during the conference. … Irvine-based healthcare software maker Quality Systems Inc. participated last week in an investor conference sponsored by Milwaukee-based brokerage R.W. Baird & Co. and held in New York. Chief Executive Steven Plochocki participated in a “fireside chat” presentation on Quality and its prospects. … Western Medical Center-Santa Ana was reaccredited as a primary stroke center by the Washington, D.C.-based Joint Commission on Accreditation, Healthcare and Certification.
