Questcor Announces Quarterly Cash Dividend and Provides Update on Share Repurchase Program

   Questcor Announces Quarterly Cash Dividend and Provides Update on Share
                              Repurchase Program

PR Newswire

ANAHEIM, Calif., Dec. 11, 2013

ANAHEIM, Calif., Dec. 11, 2013 /PRNewswire/ --Questcor Pharmaceuticals, Inc.
(Nasdaq: QCOR) today announced that its Board of Directors has declared a
quarterly cash dividend of $0.30 per share ($1.20 per share on an annual
basis). The dividend will be paid on or about January 24, 2014 to shareholders
of record at the close of business on January 17, 2014.

The Company also announced today that it made open market purchases during the
fourth quarter of 2013 of approximately 500,000 shares of Questcor common
stock through December 10, 2013. The shares were purchased at an average price
of $57.21 per share.

Through its repurchase program and its dividend, Questcor has returned
approximately $440 million to shareholders since the beginning of 2008,
representing approximately 60% of its operating cash flow over that same
period.

About Questcor


Questcor Pharmaceuticals, Inc. is a biopharmaceutical company focused on the
treatment of patients with serious, difficult-to-treat autoimmune and
inflammatory disorders. Questcor also provides specialty contract
manufacturing services to the global pharmaceutical industry through its
wholly-owned subsidiary BioVectra Inc. Questcor's primary product is H.P.
Acthar® Gel (repository corticotropin injection), an injectable drug that is
approved by the FDA for the treatment of 19 indications. Of these 19
indications, Questcor currently generates substantially all of its net sales
from the following approved indications: the treatment of proteinuria in the
nephrotic syndrome of the idiopathic type, or NS, the treatment of acute
exacerbations of multiple sclerosis, or MS, in adults, the treatment of
infantile spasms, or IS, in infants and children under two years of age, and
the treatment of certain rheumatology related conditions. With respect to
nephrotic syndrome, the FDA has approved Acthar 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." Questcor has announced
its intent to initiate a pilot commercialization effort for Acthar for the
treatment of respiratory manifestations of symptomatic sarcoidosis. The FDA
approved package insert for Acthar includes "symptomatic sarcoidosis" under
the heading "Respiratory Diseases." Questcor is also exploring the
possibility of developing markets for other on-label indications and the
possibility of pursuing FDA approval of additional indications not currently
on the Acthar label where there is high unmet medical need. Questcor also has
agreed to acquire certain international rights for Synacthen® (tetracosactide)
and Synacthen Depot®, and has licensed the right to develop and seek FDA
approval for these products in the United States. For more information about
Questcor, please visit www.questcor.com.

SOURCE Questcor Pharmaceuticals, Inc.

Website: http://www.questcor.com
Contact: EVC Group, Gregory or Gin/Patty Eisenhaur, 646-445-4801/951-316-0577;
or Janine McCargo, 646-688-0425
 
Press spacebar to pause and continue. Press esc to stop.