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Questcor Reports 2010 Financial Results
Date:2/23/2011

rth quarter for Medicaid MCO was approximately the same amount as the reserve established for each of the second and third quarters of 2010.

The Company's sales reserves were positively affected during 2010 by a reduction in the amount of rebate due state Medicaid agencies from 110% to 100% of the price of Acthar, as well as a reduction in the per vial rebate due to Tricare and the Veterans Administration. These two factors increased the Company's net sales by approximately $6.9M in 2010, partially offsetting the negative effect of the expansion of Medicaid rebates to cover Medicaid MCO patients.

"During the past year, we received approval from the FDA for Acthar in treating IS, which resulted in an updated and modernized Acthar label.  We also significantly increased MS sales, which drove our decision to again double the size of our sales force.  As we have in the past several years, in 2011 we will continue to focus our energies on building awareness of the benefits of Acthar among patients and clinicians, as well as on those activities that we believe have the greatest possibility of increasing shareholder value," concluded Mr. Bailey.

Conference Call Details The Company will host a conference call today, February 23, 2011 at 4:30 p.m. ET/ 1:30 p.m. PT, to discuss fourth quarter and full year 2010 results.  Don Bailey, President and Chief Executive Officer; and other members of the management team will host the call.

To participate in the live call by telephone, please dial 877-941-6010 for domestic participants and 480-629-9772 for international participants.  Participants are asked to call the above numbers 5-10 minutes prior to the starting time.  The call will also be webcast live at www.questcor.com.  An audio replay of the call will be available for 7 days following the call. This replay can be accessed by dialing 800-406-7325 for domestic callers and 303-5
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SOURCE Questcor Pharmaceuticals, Inc.
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