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Questcor Proxy Proposals All Approved at 2011 Shareholder Meeting
Date:5/20/2011

ANAHEIM, Calif., May 20, 2011 /PRNewswire/ -- Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) today announced the passage by its shareholders of the six proposals considered during the Company's annual meeting on May 19, 2011.

Shareholders voted in favor of the following:

  • All six nominees for the Board of Directors;
  • "Say-on-pay" advisory vote on executive officer compensation;
  • Advisory vote with respect to the frequency of future "say-on-pay" votes (once every year);
  • Amendment to the Company's 2006 Equity Incentive Award Plan, increasing the number of available shares of Questcor common stock by 3,500,000 shares;
  • Amendment to the Company's 2003 Employee Stock Purchase Plan, increasing the number of shares available for issuance by 600,000 shares; and
  • The retention of BDO USA, LLP as the Company's independent registered public accounting firm for the year ending December 31, 2011.

"On behalf of the board of directors, management and employees of Questcor, I would like to thank our shareholders for their support of the proposals considered at this year's annual meeting.  We believe that our shareholders' approval of the proposals to add shares to our Equity Incentive Award Plan and our Employee Stock Purchase Plan will play a key role in Questcor's ability to attract top talent to the organization and continue to generate strong returns for our shareholders," said Don M. Bailey, President and CEO of Questcor.

About Questcor

Questcor Pharmaceuticals, Inc. is a biopharmaceutical company whose primary product helps patients with serious, difficult-to-treat medical conditions.  Questcor's primary product is H.P. Acthar® Gel (repository corticotropin injection), an injectable drug that is approved by the FDA for the treatment of 19 indications
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SOURCE Questcor Pharmaceuticals, Inc.
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