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Questcor Pharmaceuticals Reports Strong Finish to 2011
Date:1/6/2012

erapeutic benefits of Acthar within the medical community and strong returns for Questcor's shareholders," noted Steve Cartt, Executive Vice President and Chief Business Officer. "We currently intend to approximately double the number of nephrology representatives by the spring of 2012 and modestly expand the number of neurology representatives during the summer.  We are also exploring the possibility of initiating a small pilot selling effort in rheumatology in the fall."

"Our Phase IV clinical trial studying the use of Acthar in treatment-resistant membranous nephropathy is underway, with the first patients having recently been enrolled," commented Dr. David Young, Chief Scientific Officer. "In addition, the FDA, through the review of our IND, has recently agreed with our Phase IIa study design to evaluate the use of Acthar in diabetic nephropathy.  Questcor's R&D group is also exploring potential new studies to generate scientific data related to the use of Acthar in treating additional autoimmune conditions, with particular focus on those that are already on the FDA approved Acthar label such as systemic lupus erythematosus.  Overall, we are becoming increasingly intrigued with the possible range of therapeutic applications and commercial potential for Acthar as an immunomodulating drug."

Operating expenses for the fourth quarter are estimated to be in the range of 20-30% higher than the third quarter of 2011, reflecting the Company's increased investment in sales and marketing and R&D activities for Acthar.

As of January 4, 2012, Questcor's cash, cash equivalents and short-term investments totaled $209 million. The Company did not repurchase any shares during the fourth quarter.  As of December 31, 2011, Questcor had 63.6 million shares of common stock outstanding, with 4.3 million shares remaining under its common stock repurchase program.

The operating metrics and financial information in this release ar
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SOURCE Questcor Pharmaceuticals, Inc.
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