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Questcor Reports Record Second Quarter Financial Results
Date:7/24/2014

in the quarter, resulting in record net sales and earnings," said Don M. Bailey, President and CEO of Questcor. "Similar to 2013, Acthar prescription activity picked up significantly in the second quarter, led by growth in our rheumatology indications and a resurgence in prescriptions for nephrotic syndrome. In addition, BioVectra experienced significantly improved results and we are in the process of expanding BioVectra's specialty fermentation capacity in order to meet the growing demand for their contract manufacturing services."

To allow comparable analysis, the Company has defined "new paid" prescriptions in the below paragraphs to include prescriptions covered by commercial carriers, Medicare, Medicaid and Tricare in all periods regardless of the rebate percentage applicable in those periods. The numbers are based on internal company estimates.

"There were between 2,775 and 2,800 total new paid prescriptions for Acthar in the second quarter, an increase of approximately 23% compared with the second quarter of 2013 and an increase of 19% sequentially," commented Steve Cartt, Chief Operating Officer of Questcor.  "Of particular note, we continue to see increased prescribing of Acthar by rheumatologists as a result of our ongoing educational efforts in rheumatology that, until very recently, have focused primarily on dermatomyositis and polymyositis.  For all combined FDA-approved rheumatology-related Acthar indications, pharmacies filled between 665 and 675 new paid Acthar prescriptions during the second quarter, more than double the 315 to 320 prescriptions filled in the year ago quarter and an increase of 16% sequentially. Rheumatology prescriptions now account for approximately one-third of our total Acthar business.  Overall, we had a strong second quarter, and we are seeing similar trends in the first few weeks of the current quarter."

Mr. Cartt continued, "We have recently increased our promotional emphasis within rheuma
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SOURCE Questcor Pharmaceuticals, Inc.
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