ANAHEIM, Calif., April 4, 2011 /PRNewswire/ -- Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) today announced preliminary operating metrics for its first quarter ended March 31, 2011. The Company announced the preliminary metrics in advance of the Needham Healthcare Conference, where Don M. Bailey, President and Chief Executive Officer of Questcor, will present on Tuesday, April 5, 2011, at 8:00 a.m. ET. To listen to the audio web cast of the presentation during or after the event, please visit www.questcor.com. The replay will be available for 90 days after the event.
For the quarter ended March 31, 2011, the Company provided the following preliminary key operating metrics:
New, paid prescriptions of H.P. Acthar® Gel (Acthar) for the treatment of exacerbations of multiple sclerosis (MS) during the quarter were greater than 500, up over 115% from the year ago period and up over 40% from the prior quarter.
New, paid prescriptions for infantile spasms (IS) were estimated at 88.
New, paid prescriptions for nephrotic syndrome (NS) were estimated at 18.
2,010 vials of the Company's principal drug, Acthar, were shipped during the quarter ended March 31, 2011.
Gross sales were $48.6 million.
Based on invoices received from state Medicaid agencies to date, Medicaid and other sales reserves for all periods through December 31, 2010 continue to appear to be adequate. Preliminary analysis of Medicaid prescription activity for the first quarter of 2011 would indicate that sales reserves for the first quarter of 2011 will be about at average percentage levels compared to the three quarters following the March 23, 2010 adoption of healthcare reform.
Operating expenses are estimated to be between $16 million and $18 million.
During the first quarter, the Company used $11.5
|SOURCE Questcor Pharmaceuticals, Inc.|
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