Questcor Pharmaceuticals Inc (NASDAQ:QCOR) shares surged to new peaks by 28.41%


Dallas, Texas 08/01/2013 (Financialstrend) – Questcor Pharmaceuticals Inc (NASDAQ:QCOR) is concentrated on the development of therapeutics to cure inflammatory disorders and autoimmune diseases.  H.P. Acthar Gel is the company’s primary product. The company acquired Novartis AG. Both together have increased the stock value by up to 15%. Acthar was developed for Infantile Spasms and also marketed for the various diseases such as Multiple Sclerosis, Nephrotic Syndrome and various rheumatoid related diseases. Acthar is now being distributed in U.S. in selected states and also in European market but to sell in entire U.S. they have to get sanction from FDA. The product is focused for the treatment for ulcerative colitis, nephrotic syndrome, and acute case of multiple sclerosis, chronic skin diseases and rheumatoid diseases. This leads to the company as a partial monopoly in the market. From IS the company had achieved 10% of its total revenue, 50% revenue from the NS, 30% revenue from the MS and finally 10% revenue from the rheumatology therapies. Multiple Sclerosis is the biggest market which is expected to gain to $16.6 billion at the end of 2017. Now Acthar has very less market shares in these bigger areas.

Questcor Pharmaceuticals Inc (NASDAQ:QCOR) had presented gains of 28.41% with the trading on Wednesday and had thereby closed at $66.66 per share. While the stock opened at $59.75 per share, there had been fluctuations in the intraday prices ranging between $59.69 and $68.08 per share during the day. The 52 week low price for the stock is presently at $17.25 and 52 week high price is at $68.08 per share. There are a total 59.99 million shares in the market valuing to a market cap of $4.00 billion. The stock witnessed around 12.85 million shares being exchanged hands on Wednesday while the average level of trading is at 1.43 million shares a day.