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Questcor Reports Fourth Quarter and Full Year 2012 Results
Date:2/26/2013

th quarter of 2012, the company initiated the expansion of its rheumatology sales force to 55 from 12 rheumatology representatives.
  • Questcor also continued to demonstrate its commitment to returning capital to shareholders, by expanding its common share repurchase program authorization by an additional 5 million shares and adopting a policy to pay a regular quarterly dividend in September 2012. The company repurchased 6.8 million shares in 2012.
  • Following the end of the fourth quarter of 2012:

  • On January 18, 2013, Questcor acquired BioVectra Inc. for an upfront payment of $50.8 million. BioVectra has been Questcor's manufacturing partner for the active pharmaceutical ingredient (API) in Acthar for nearly a decade. The acquisition further secures the manufacturing process trade secrets surrounding Acthar.
  • During the first quarter of 2013, the Medicaid rebate amount for Acthar was reset to the standard basic rebate.
  • On January 28, 2013, Questcor strengthened its management team with the appointment of Michael Aldridge to the new position of Senior Vice President, Corporate Strategic Development. Mr. Aldridge's primary responsibilities will be the identification and development of partnership and acquisition opportunities to leverage Questcor's business model. Over time, such initiatives may include development programs or products complementary to Acthar and the evaluation of potential expansion into ex-US markets.
  • Acthar Label InformationThe product label for Acthar includes 19 FDA-approved indications. Substantially all of the Company's net sales currently result from Acthar prescriptions for the following on-label indications of:

  • Nephrotic Syndrome (NS): "to induce a diuresis or a remission of proteinuria in the nephrotic syndrome without uremia of the idiopathic type or that due to lupus erythematosus." NS can result from several underlying conditions, and prescribing physicians indicate that Acthar
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  • SOURCE Questcor Pharmaceuticals, Inc.
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