Questcor Pharmaceuticals, Inc. Profile

Questcor Pharmaceuticals, Inc. is a specialty pharmaceutical company that focuses on novel therapeutics for the treatment of diseases and disorders of the central nervous system (CNS). It owned four commercial products: H.P. Acthar Gel (Acthar), an injectable drug that is approved for the treatment of certain CNS disorders with an inflammatory component, including the treatment of flares associated with multiple sclerosis and is also used in treating patients with infantile spasm; Nascobal, a prescription nasal gel used for the treatment of various Vitamin B-12 deficiencies; Ethamolin, an injectable drug used to treat enlarged weakened blood vessels at the entrance to the stomach that has bled, known as esophageal varices, and Glofil-125, an injectable agent that assesses how well the kidney is working by measuring glomerular filtration rate. On October 17, 2005, it completed the sale of its non-core product lines Nascobal, Ethamolin and Glofil-125 to QOL Medical LLC. For the three months ended 31 March 2006, Questcor Pharmaceuticals' revenues decreased 55% to $2M. Net loss applicable to Common totaled $3M, up from $99K. Revenues reflect the sale of Nascobal, Glofil-125 and Ethamolin product lines. Higher loss also reflects an increase in selling, general & administrative expense due to the expansion of sales organization and the presence of rental expense vs. an income.