Questcor Pharmaceuticals, Inc. (QCOR)

[reddymade]

News Breaks
December 12, 2011
13:10 EDT QCOR theflyonthewall.com: Questcor sinks after reporting Acthar prescriptions
Questcor (QCOR) is retreating after the company announced that there were 615-625 paid prescriptions of its main Acthar Gel for the treatment of multiple sclerosis from October 1 to November 30, down from 886 during its third quarter ended September 25. Prescriptions for Acthar for the treatment of nephrotic syndrome came in between 83-87 from October 1 to November 30, up from 60 in Q3. Finally, there were 88-92 new Acthar prescriptions for the treatment of infantile spasms, down from 112 in Q3. In a note to investors, Oppenheimer said Questcor's update is "largely positive." Questcor's Q4 revenue should exceed Oppenheimer's estimate of $66.6M by as much a $6M-$90m, added the firm. While Oppenheimer understands why people are concerned about the decline in MS prescriptions, it notes that prescriptions typically accelerate towards the end of each quarter, and it recommends buying the stock on today’s weakness. In mid-afternoon trading, Questcor fell $2.45, or 5.37%, to $43.14. :theflyonthewall.com