BioCentury
ARTICLE | Company News

Questcor falls on government investigation update

October 31, 2013 12:25 AM UTC

Questcor Pharmaceuticals Inc. (NASDAQ:QCOR) fell $9.72 (14%) to $60.01 on Wednesday after disclosing that the U.S. Attorney's Office for the Southern District of New York and SEC's Los Angeles office have joined an ongoing investigation of the company's promotional practices for H.P. Acthar Gel repository corticotropin injection. The update came on a conference call to discuss the company's 3Q13 earnings. Questcor first disclosed that the U.S. government was investigating the company's practices in September 2012. Questcor markets H.P. Acthar Gel in the U.S. for 19 indications, though the company generates "substantially all" of its net sales from just five: proteinuria in idiopathic types of nephrotic syndrome, acute exacerbations of multiple sclerosis (MS) in adults, infantile spasms, collagen diseases and rheumatic disorders. ...