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Questcor Reports Third Quarter Financial Results
Date:10/29/2013

ANAHEIM, Calif., Oct. 29, 2013 /PRNewswire/ -- Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) today reported financial results for the third quarter and nine months ended September 30, 2013. Three Months Ended 09/30/13Three Months Ended 09/30/12

 Percentage ChangeNet Sales

$236.3 Million

$140.3 Million

68%GAAP Diluted EPS

$1.52

$0.91

67%Non-GAAP Diluted EPS

$1.68

$0.97

73% Nine Months Ended 09/30/13

Nine Months Ended 09/30/12

Percentage ChangeGAAP Net Sales

$556.0 Million

$348.8 Million

59%Non-GAAP Net Sales

$567.5 Million

$348.8 Million

63%GAAP Diluted EPS

$3.32

$2.12

57%Non-GAAP Diluted EPS

$3.82

$2.25

70% 

Net sales for the third quarter ended September 30, 2013 were $236.3 million, up 68 percent from $140.3 million in the third quarter of 2012. The increase was driven by the expanded usage of H.P. Acthar® Gel (repository corticotropin injection) in multiple therapeutic areas. The most significant increase in net sales was driven by rheumatologists prescribing Acthar for patients suffering from dermatomyositis, polymyositis, rheumatoid arthritis, and systemic lupus erythematosus. The increase in net sales was also driven by the continued prescribing of Acthar by nephrologists in the treatment of nephrotic syndrome (NS) and by neurologists in the treatment of multiple sclerosis (MS) relapses and infantile spasms (IS). BioVectra, the company's specialty manufacturing subsidiary, acquired in January 2013, had net sales of $9.0 million in the third quarter of 2013. GAAP earnings for the third quarter of 2013 were $1.52 per diluted common share, up 67 percent from $0.91 per diluted common share in the third quarter of 2012.
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SOURCE Questcor Pharmaceuticals, Inc.
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