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Biotech / Medical : QCOR Questcor Pharmaceutical

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From: Savant	7/27/2011 12:05:14 PM
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10:04 (Dow Jones) Questcor Pharma (QCOR) surges to another all-time high after reporting better-than-expected 2Q results. Paid prescriptions of injectable drug Acthar, which treats MS exacerbations, more than doubled while increases for treatment of nephrotic syndrome, a kidney disorder, leads QCOR to expand its nephrology sales force to 28 reps from 5. Oppenheimer boosts its price target on the stock to $35 from $27, saying Acthar continues to outpace expectations. Meanwhile, QCOR says it is now exploring the use of Acthar to treat a chronic autoimmune disorder for which it already has 3 FDA-approved on-label indications associated with the disease. QCOR surges 20% to $31.16; it has more than doubled this year and was below $5 in March 2010. (caitlin.nish@dowjones.com)

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