Tuesday, April 5, 2011

Questcor Pharmaceuticals (QCOR) Soars on Acthar Sales

Shares of Questcor Pharmaceuticals (NASDAQ:QCOR) are rocketing today on news sales of its multiple sclerosis drug Acthar skyrocketed 115 percent over sales last year, and 40 percent over its prior quarter.

Acthar treats exacerbations of multiple sclerosis.

Questcor said new, paid prescriptions for the treatment came in at a 115 percent gain over last year.

Gross sales for the quarter reached $48.6 million. The company will release its full earnings report on April 26.

Questcor was trading at $18.24, gaining $3.32, or 22.25 percent, as of 12:59 PM EDT.

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